Wall Street giant Blackstone $3bn Invenergy investment 'among largest ever in US renewables'

Blackstone will pump $3bn into green energy giant Invenergy in what’s claimed as one of the largest investments in the history of US renewables.

Blackstone – itself among the world’s largest asset managers – said its equity stake “will provide capital to accelerate Invenergy’s renewables development activities” as the Chicago-based group expands from its existing 23GW wind and solar portfolio, plus a fast-growing energy storage operation.

Invenergy’s management and Canadian investor Caisse de dépôt et placement du Québec (CDPQ) will remain the majority owners after the Blackstone investment.

Sean Klimczak, global head of infrastructure at Blackstone, 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.”

Although the majority of Invenergy’s portfolio is located in North America, it has a growing international presence that includes projects in the UK, Poland and Japan.

Blackstone said the Invenergy stake brings to about $13bn its total investments in energy transition-related ventures since 2019.