Deals
Blackstone Power Plans Hit a Snag in Porsche, BMW Heartland
- EU questions if German reserve meets internal market rules
- Utilities RWE, Trianel also consider bidding for reserve
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Blackstone Group LP’s quest to be the first company to build back-up power plants in southern Germany faltered after the European Commission queried whether the nation needs the facilities at all.
The world’s biggest private equity firm’s PQ Energy unit says an EU antitrust probe could delay a bid to build new reserve power plants in Germany’s industrial heartland. The region, home of automakers from Porsche Automobil Holding SE and BMW AG to gas company Linde AG, faces a looming power shortage as the nation plans to exit nuclear within five years.