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Invenergy Renewables receives $3B equity investment from Blackstone

NIPSCO Invenergy

Invenergy Renewables, one of the most respected clean energy developers in the world, announced this Monday, it secured a minority equity investment of $3 billion from Blackstone Infrastructure Partners.

Firstly, Blackstone entered into an agreement with Invenergy, the parent company of Invenergy Renewables; and the Caisse de dépôt et placement du Québec (CDPQ). The investment aims to accelerate Invenergy’s renewables development activities.

Moreover, Lazard and CIBC served as M&A advisors to Blackstone; Kirkland & Ellis as legal advisors to Blackstone. Mayer Brown was legal advisor to CDPQ, and Sidley & Austin and White & Case represented the company and Invenergy.

In addition, the investment will be important to Invenergy, as it is building both the largest wind and solar projects in the United States. The two of them, combined, will deliver nearly 3 gigawatts (GW) of clean energy by 2023.

Furthermore, the company is indeed one of the largest and most well-respected renewable energy developers. It has developed more than 175 projects totaling nearly 25,000 megawatts across four continents.

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Invenergy, developing critical projects in the US

Altogether, the generation projects developed by the company power the equivalent of 8.5 million homes. As a result, the company’s developed projects have offset approximately 167 million tons of carbon dioxide; approximately the annual emissions of the state of New York.

Also, the company has a significant development and construction pipeline; and its affiliate Invenergy Transmission is solving power delivery challenges by advancing some of the world’s most innovative transmission infrastructure projects.

Commenting on the transaction, Sean Klimczak, Global Head of Infrastructure at Blackstone, said. “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.”

Finally, Jim Murphy, President at Invenergy, said. “We greatly value our long-term relationship with CDPQ and are thrilled to continue to accelerate the clean energy transition with Blackstone’s additional investment and capabilities.”

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