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January 10, 2022

Blackstone to invest $3bn in Invenergy Renewables Holdings

CDPQ and Invenergy will retain a majority stake in the company, while Invenergy will continue to serve as its managing member.

US-based alternative investment management company Blackstone is set to invest around $3bn in renewable energy developer Invenergy Renewables Holdings.

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Funds managed by Blackstone Infrastructure Partners have signed a definitive agreement with Caisse de dépôt et placement du Québec (CDPQ) and Invenergy to make the equity investment.

The proceeds will be used to expedite Invenergy’s renewable development activities.

CDPQ and Invenergy management will continue to own a majority stake in Invenergy Renewables, with Invenergy also continuing as managing member.

Blackstone Infrastructure global head Sean Klimczak said: “Blackstone is committed to investing behind the energy transition and Invenergy is the clear independent leader in the renewable energy sector.

“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.”

To date, Invenergy Renewables has developed 25GW of renewable energy capacity worldwide.

The company is engaged in the development of the US’ largest wind and solar projects, which will collectively deliver almost 3GW of clean energy by 2023.

Invenergy president and corporate business leader Jim Murphy said: “The Invenergy team is pleased to welcome Blackstone, a leader in the renewable investment space, as our partner.

“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.”

Lazard and CIBC acted as mergers and acquisition (M&A) advisers to Blackstone for the transaction while Kirkland & Ellis served as the company’s legal adviser.

Based in Chicago, Invenergy develops, owns and operates large-scale sustainable energy generation and storage facilities alongside its affiliates.

Last September, the company announced a joint venture with BW Offshore to build offshore wind projects with up to 5.4GW of combined capacity as part of the first ScotWind leasing round.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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