Blackstone Infrastructure Partners (Blackstone) has completed a US$1bn equity investment in Invenergy Renewables Holdings to support its rapidly expanding business.
Invenergy will leverage this additional investment to support the continued growth of the company in the US and around the world, as well as its portfolio of projects.
This includes some of the world’s largest solar and land-based wind farms, advanced energy storage facilities, offshore wind projects, high-voltage direct current interregional transmission lines, clean hydrogen initiatives, solar panel manufacturing, and a growing community solar business through its Reactivate venture.
The investment builds on Blackstone’s nearly US$3bn investment in Invenergy in 2021 and 2022.
Invenergy’s ownership includes Blackstone, CDPQ and Invenergy management.
Invenergy management will continue as managing member of the company with day-to-day responsibility for execution of the business.
Matthew Runkle, senior managing director at Blackstone Infrastructure, said: “We are proud to support the continued growth of Invenergy’s business.
“Invenergy has a premier platform for developing, owning, and operating clean energy projects and we are excited to continue supporting the realization of these projects and their important contribution to decarbonizing the energy sector.”
President and corporate business leader at Invenergy Jim Murphy added: “The additional equity capital from Blackstone will help accelerate execution of our existing project portfolio and our new business initiatives.
“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.”