Blackstone Strategic Partners Acquires 51% of Gemini Project, Expanding Solar Capacity Across Southwest U.S.

Blackstone Strategic Partners, the lead investors in the Valley of Fire fund, has acquired 51% of the Gemini project, along with all remaining projects owned by the LCPF. The remaining stake in the Gemini is owned by Dutch pension asset manager APG. The fund includes seven projects, including Gemini, with over 2.65GW of solar PV capacity and the potential to add 1.5GW of additional battery storage capacity. The projects are located in Arizona, Colorado, and Nevada. This acquisition follows Quinbrook’s subsidiary, Primergy Solar, signing a long-term power purchase agreement with San Diego Community Power to sell power from its Purple Sage Energy Center.