Blackstone invests $3 billion in renewable energy developer Invenergy

Blackstone, the world’s largest alternative asset manager, has announced that funds managed by Blackstone Infrastructure Partners have entered into a definitive agreement with Caisse de dépôt et placement du Québec (CDPQ) and Invenergy for an approximately $3 billion equity investment in Invenergy Renewables Holdings LLC, the largest private renewable energy company in North America. Blackstone’s investment will provide capital to accelerate Invenergy’s renewables development activities. CDPQ and Invenergy management remain majority owners of the company and Invenergy will continue as managing member.

Invenergy Renewables is one of the largest renewable energy developers, with over 175 projects totaling nearly 25,000 megawatts developed across four continents, focused on long-lasting partnerships with utilities, financial institutions and commercial and industrial customers.

Commenting on the transaction, Sean Klimczak, Global Head of Infrastructure at Blackstone, said: “Blackstone is committed to investing behind the energy transition and Invenergy is the clear independent leader in the renewable energy sector. We look forward to a long-term partnership with the Invenergy and CDPQ teams and are excited to invest alongside them to support the accelerated build-out of Invenergy’s clean energy portfolio.”