Blackstone Completes $1 Billion Equity Investment in Invenergy Renewables

Blackstone's total investment in Invenergy stands at $4 billion


Investment firm Blackstone Infrastructure Partners have finalized an approximately $1 billion equity investment in sustainable energy solutions provider Invenergy Renewables Holdings.

The infusion of funds will play a vital role in supporting Invenergy’s diverse portfolio of projects, which encompasses solar and onshore wind farms, energy storage facilities, offshore wind initiatives, high-voltage direct current interregional transmission lines, clean hydrogen projects, solar module manufacturing, and the burgeoning its Reactivate venture that focuses on community solar initiatives.

In Jan 2022, Blackstone announced that funds managed by Blackstone Infrastructure Partners have entered into a definitive agreement with Caisse de depot et placement du Quebec (CDPQ) and Invenergy for an approximately $3 billion equity investment in Invenergy Renewables, a renewable energy company in North America.

Invenergy’s ownership includes Blackstone, CDPQ, and Invenergy management. The Invenergy management will continue as the company’s managing member with day-to-day responsibility for the execution of the business.

“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.”

Invenergy and its affiliated companies have successfully developed over 30 GW of projects in operation, construction, or contracted, including wind, solar, transmission infrastructure, natural gas power generation, and advanced energy storage projects focused on partnerships with utilities, financial institutions, and commercial and industrial customers.

Last February, Invenergy announced an agreement with Ameren Missouri, a subsidiary of Ameren to sell a 150 MW solar project being developed in southeastern Illinois. The project will begin generating clean energy by 2024.

IRG Acquisition Holdings, a company owned by Invenergy, CPDQ, and funds managed by Blackstone Infrastructure, recently acquired 1,365 MW of renewable portfolio from American Electric Power at an enterprise value of $1.5 billion.