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Blackstone adds $1bn to Invenergy investment

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Blackstone Infrastructure Partners has added $1 billion to its existing $3bn investment in Invenergy. The funds will be used to grow Invenergy's investments, including large wind and solar farm projects, in the US and globally.

"We are proud to support the continued growth of Invenergy's business," said Matthew Runkle, senior managing director at Blackstone Infrastructure. "Invenergy has a premier platform for developing, owning, and operating clean energy projects and we are excited to continue supporting the realization of these projects and their important contribution to decarbonizing the energy sector."

In February, Invenergy and Blackstone Infrastructure joined Canadian pension fund Caisse de depot et placement du Quebec (CDPQ) to acquire American Electric Power's 1.37GW unregulated, contracted renewables portfolio for $1.5 billion (PFR, 2/23). The portfolio included 14 projects in 11 states with 1.2GW of wind generation and 165MW of solar operations.

In 2022, Blackstone invested $3 billion in Invenergy for the expansion of their clean platform development (PFR, 1/7/22). This investment was the largest equity investment in US renewables at the time.

Invenergy is owned by Blackstone, CDPQ, and Invenergy Management, which is the managing member of the company for day-to-day business. The Chicago-based developer and its affiliates have completed over 30GW of energy projects, including wind, solar, transmission, energy storage, and natural gas.

Blackstone Infrastructure Partners has $36 billion renewables and infrastructure assets under management.