North America’s leading private renewable energy company Invenergy Renewables has secured an equity investment worth approximately $3 billion from Blackstone. According to a press release, funds managed by Blackstone Infrastructure Partners have entered into a definitive agreement with Caisse de dépôt et placement du Québec (CDPQ) and Invenergy for the said investment.
CDPQ and Invenergy management will continue to remain majority owners of the company and Invenergy will continue as a managing member as part of this agreement. This big investment will help Invenergy accelerate its renewable energy growth activities.
Invenergy Renewables is a leading renewable energy developer, with over 175 projects developed across four continents, focused on long-lasting partnerships with utilities, financial institutions and commercial and industrial customers. Invenergy has successfully developed more than 25,000 megawatts of projects that are in operation, construction or contracted, including wind, solar power generation facilities as well as transmission and advanced energy storage projects. CDPQ is a global investment group that manages funds for public retirement and insurance plans, and is active in the major financial markets, private equity, infrastructure, real estate and private debt.
Blackstone is a leading global alternative asset manager with $731 billion in assets under management. These include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Meanwhile, Blackstone Infrastructure Partners is an active investor across energy, transportation, digital infrastructure and water and waste infrastructure sectors.
REGlobal’s Views: This investment in Invenergy is the latest in Blackstone’s recent financings in expanding companies that are present in the clean energy space. This is a growing trend on a global level, as investors look to green their portfolios.
