Iberdrola secures FERC nod for USD-2.55bn buyout of Avangrid
Sep 06, 2024 8:55 CESTFunds managed by Blackstone Infrastructure Partners have invested a further USD 1 billion (EUR 915m) in Invenergy’s renewables business to support its continued growth, the Chicago-based privately-held clean energy developer announced today.
The new equity investment in Invenergy Renewables Holdings LLC adds to almost USD 3 billion that Blackstone put into the company over the past two years.
Besides the alternative asset manager, Invenergy is owned by Canadian pension fund Caisse de depot et placement du Quebec (CDPQ) and Invenergy management.
"Invenergy has a premier platform for developing, owning, and operating clean energy projects and we are excited to continue supporting the realisation of these projects and their important contribution to decarbonising the energy sector," said Matthew Runkle, senior managing director at Blackstone Infrastructure.
Invenergy will use the additional capital to accelerate the execution of existing projects and new initiatives in the US and around the world. Its portfolio includes large-scale solar and wind farms, energy storage facilities, offshore wind projects, interregional transmission lines, clean hydrogen initiatives, solar panel manufacturing, as well as a community solar business through its Reactivate venture.
Just yesterday, Blackstone also struck a deal to acquire a minority stake in Northern Indiana Public Service Company (NIPSCO).
(USD 1.0 = EUR 0.915)
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