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Blackstone-Backed Solar Company Esdec Seeks US IPO at $5 Billion Value

Dutch solar mounting firm has hired banks for New York listing
Esdec, also backed by Rivean, seeks to tap deep US market

Signage outside the Blackstone headquarters in New York, U.S., on Tuesday, Jan. 25, 2022. Blackstone Inc. is scheduled to release earnings figures on January 27.Photographer: Angus Mordant/Bloomberg

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By Aaron Kirchfeld and Swetha Gopinath

August 10, 2023 at 9:16 PM UTC

Updated on

August 11, 2023 at 12:16 AM UTC

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Esdec Solar Group is seeking an initial public offering in New York that would value the Blackstone Inc.-backed solar firm at more than $5 billion, according to people familiar with the matter.

The Netherlands-based company has appointed JPMorgan Chase & Co. and Morgan Stanley to the top line and is in the process of adding further banks to the IPO syndicate, the people said, asking not to be identified discussing confidential information.