Blackstone's Infrastructure Arm to Invest $3 Billion in Renewable Energy Firm Invenergy

By Kimberly Chin

Blackstone Inc.'s infrastructure unit has agreed to invest $3 billion in Invenergy Renewables Holdings LLC, as the private-equity firm throws more support to the clean energy transition.

The investment will help Invenergy develop its clean energy platform, the companies said in a joint release.

Invenergy's management and Caisse de dépôt et placement du Québec, one of the largest public pension plans in Canada, will remain majority owners of the company. Invenergy will continue to be a managing member, the companies said.

Chicago-based Invenergy is an energy developer with over 175 projects on four continents. The projects can power the equivalent of 8.5 million homes, it said. Invenergy has long-lasting partnerships with utilities, financial firms and commercial and industrial customers.

Blackstone has invested $13 billion to support the clean energy transition since 2019, it said. Blackstone has plans to cut carbon emissions by 15% within the first three years of ownership across all of its new investments and where it has the ability to control energy usage.

Write to Kimberly Chin at [e-mail]

(END) Dow Jones Newswires

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