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Latest News  + Alternative Assets  + Markets  + Real Assets  |  June 23, 2023
Blackstone Raises Investment to $4B in Invenergy Renewables
By: Joe Palmisano

Blackstone Ups Investment to $4B in Invenergy Renewables

Blackstone Infrastructure Partners has made a roughly $1 billion follow-on equity investment in Invenergy Renewables Holdings LLC, a developer, owner and operator of sustainable energy services.

The investment by the alternative asset manager adds to its previously announced $3 billion capital infusion in the renewables business of Invenergy in 2021 and 2022.

Invenergy Renewables is owned by Canadian pension fund company Caisse de dépôt et placement du Québec (CDPQ), Blackstone Infrastructure Partners and Invenergy’s management.

The additional capital will help Chicago-based Invenergy accelerate the execution of its existing project portfolio as well as its new business initiatives, according to Jim Murphy, president and corporate business leader at Invenergy.

Invenergy and its affiliates claim to have developed over 30GW of projects that are in operation, construction, or contracted, including solar, wind, transmission infrastructure, natural gas-fired power generation and advanced energy storage facilities.

In 2022, the company entered the community solar market by partnering with investment platform Lafayette Square to form a joint venture to develop and operate PV plants through its Reactivate venture.

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Blackstone Infrastructure PartnersInvenergy Renewables

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.