Invenergy bags US$ 3bn investment from Blackstone

• Alternative asset manager Blackstone will spend around US$ 3 billion in Invenergy Renewables to aid drive a sped up build-out of the solar and wind designer's clean energy platform.

Adhering to the investment, made through funds taken care of by Blackstone Infrastructure Partners, Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) and Invenergy monitoring will certainly stay majority proprietors of the developer, while Invenergy will certainly continue as managing member.

Chicago-headquartered Invenergy has actually developed greater than 175 renewable energy projects amounting to nearly 25GW as well as has a portfolio of solar PV plants in markets such as the United States, Canada, Uruguay and also Japan.

The business is presently developing what it states will be the largest solar project in the United States, the 1,310 MW Samson Solar Energy Center in Texas that is due to be operational following year and also supply power to corporate off-takers such as Honda, McDonald's and also Google.

Last year saw Invenergy development with or complete PV plants in US states such as Ohio, Indiana as well as Nevada, while it is additionally part of a collaboration in New york city to bring forward the state's Clean Path NY project, which would certainly feature 1.8 GW of solar.

"Invenergy has actually constructed a superior platform for delivering clean energy-- which is important to our future-- as well as we are honoured to be a part of their objective," stated Matthew Runkle, elderly taking care of director in the Infrastructure Group at Blackstone.

Blackstone has committed almost US$ 13 billion in financial investments since 2019 that it believes are consistent with the energy transition.

In 2020, the asset supervisor led an US$ 850 million recapitalisation of commercial as well as commercial solar company Altus Power America before taking place to create a brand-new portfolio firm concentrated on funding and also owning dispersed energy assets later on in the year.

Blackstone last year gave programmer Strata Solar with US$ 150 countless capital to help fund the advancement, building and construction and also possession of utility-scale solar as well as storage assets across North America, while funds managed by Blackstone Energy Partners secured a sell August to buy up to US$ 500 numerous continuous participating preferred stock of US solar tracker carrier Array Technologies.