The US-based investment management company, Blackstone, is set to make a massive investment of $3Bn in renewable energy developer Invenergy Renewables Holdings, the largest private wind developer and owner in North America. Funds managed by Blackstone Infrastructure Partners have recently signed a definitive agreement with Caisse de dépôt et placement du Québec (CDPQ) and Invenergy to make the equity investment. The proceeds will therefore be used to expedite Invenergy’s renewable development activities. “We are thrilled to continue to accelerate the clean energy transition with Blackstone’s additional investment and capabilities,” said Jim Murphy, president and corporate business leader at Invenergy. “The Invenergy team is pleased to welcome Blackstone, a leader in the renewable investment space, as our partner.”
Blackstone since 2019 has managed assets like private equity, committing around $13 billion in investments, which it “believes are consistent with the broader energy transition”. Sean Klimczak, global head of infrastructure at Blackstone, said in a statement that “Blackstone is committed to investing behind the energy transition and we are excited to partner with Invenergy, which is the clear independent leader in the renewable energy sector.” Invenergy currently has more than 175 renewable energy projects totalling nearly 25GW across four continents. Its portfolio also includes natural gas power generation facilities, and advanced energy storage projects as well as transmission infrastructure. Its projects have offset approximately 167 million tons of CO2, equivalent to the annual emissions of the state of New York, it claimed.
CDPQ head of infrastructure Emmanuel Jaclot said: “For nearly a decade, we have worked alongside Invenergy to build a key global player in the energy transition, in the US and around the world. Michael Polsky, Jim Murphy, and their team raise the bar when it comes to developing and operating sustainable energy solutions, making their company a true innovator and leader in its field. We are delighted to welcome our long-term partner Blackstone as a new investor, combining our global reach and resources to help position Invenergy.”
With its home office in Chicago, Invenergy also has regional development offices in the US, Canada, Mexico, Spain, Japan, Poland, and Scotland. In September last year, Invenergy formed a joint venture with BW Offshore to develop up to 5.4 GW of offshore wind capacity in Scotland, UK.
