Blackstone, CDPQ and Invenergy to make $3 billion investment in Invenergy Renewables

Jan. 12, 2022
The investment will enable the firm to accelerate its renewables development activities

Funds managed by Blackstone Infrastructure Partners, the Caisse de dépôt et placement du Québec (CDPQ) and Invenergy signed a definitive agreement to make a $3 billion equity investment in Invenergy Renewables Holdings. CDPQ and Invenergy management will remain majority owners.

The investment will enable the private renewable energy firm to accelerate its renewables development activity. Invenergy Renewables has a significant development and construction pipeline. The completed projects have offset approximately 167 million tonnes of CO2. Invenergy Transmission, its affiliate, is working on solving power delivery challenges by working on the world’s most innovative transmission infrastructure projects. It is building the largest wind and solar projects in the country. These projects will deliver 3 GW of clean energy by 2023.

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.”

Blackstone aims to reduce carbon emissions by 15% across its new investment, where it can control energy usage, within the first three years of ownership. 

About the Author

EnergyTech Staff

Rod Walton is senior editor for EnergyTech.com. He has spent 14 years covering the energy industry as a newspaper and trade journalist.

Walton formerly was energy writer and business editor at the Tulsa World. Later, he spent six years covering the electricity power sector for Pennwell and Clarion Events. He joined Endeavor and EnergyTech in November 2021.

He can be reached at [email protected]

EnergyTech is focused on the mission critical and large-scale energy users and their sustainability and resiliency goals. These include the commercial and industrial sectors, as well as the military, universities, data centers and microgrids.

Many large-scale energy users such as Fortune 500 companies, and mission-critical users such as military bases, universities, healthcare facilities, public safety and data centers, shifting their energy priorities to reach net-zero carbon goals within the coming decades. These include plans for renewable energy power purchase agreements, but also on-site resiliency projects such as microgrids, combined heat and power, rooftop solar, energy storage, digitalization and building efficiency upgrades.

Image credit ShutterDesigner/Shutterstock.com
Image credit Photo 318517600 © Pedro2009 | Dreamstime.com
Image credit Photo 14633707 © Alphaspirit | Dreamstime.com
Room & Board store in Edina, Minnesota. Image credit to the company.