In January 2013 Blackstone announced a partnership with a highly experienced management team, led by, former executives from top utilities with a wide experience in developing and constructing electrical assets as CCGTs, PV solar plants, wind farms, transmission lines, etc, and setting up, developing and managing electricity and gas supply companies, creating Fisterra Energy, a company owned by funds managed by Blackstone on behalf of its private equity investors.

The aim of this partnership is to identify, develop and invest in large scale independent power projects worldwide that generate attractive returns.