Invenergy Renewables Secures Massive Investment from Blackstone

By Sophia Francise

June 23, 2023
Solar panels and Wind Turbines farm

Blackstone Inc. (BX.N) has finalized an approximately $1 billion equity transaction, bringing the private equity firm’s total investment in the renewable energy company to $4 billion, Invenergy Renewables Holdings reported on Wednesday.

This increases the approximately 3 billion US Dollars Blackstone invested in Invenergy over the previous two years.1

Blackstone, the Canadian pension fund Caisse de dépôt et placement du Québec, and Invenergy Management are the proprietors of Invenergy.

Invenergy management will continue to serve as the organization’s managing member and be in charge of daily operations.

The world’s leading operator of alternative assets, including real estate and private equity, has been working to improve its reputation for sustainability as investors scrutinize businesses’ treatment of the environment and employees more and more.

“We are proud to support the continued growth of Invenergy’s business,” said Matthew Runkle, Senior Managing Director of Blackstone Infrastructure. “Invenergy has a premier platform for developing, owning, and operating clean energy projects. We are excited to continue supporting the realization of these projects and their important contribution to decarbonizing the energy sector.”

The additional equity capital from Blackstone will help accelerate the execution of our existing project portfolio and our new business initiatives,” said Jim Murphy, President and Corporate Business Leader at Invenergy. “We greatly value our long-term relationship with Blackstone and CDPQ and look forward to continuing to lead the clean energy transition with the support of these trusted partners.”

References

  1. Invenergy, ‘Invenergy Announces $1 Billion Follow On Investment From Blackstone Infrastructure Partners’, 21 June 2023, https://invenergy.com/news/invenergy-announces-1-billion-follow-on-investment-from-blackstone-infrastructure-partners[]
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