Blackstone Inc. said on Dec. 7 it would invest about $3 billion in Invenergy Renewables Holdings LLC, the largest private renewable energy company in North America.
The world's largest manager of alternative assets such as private equity and real estate has been seeking to bolster its sustainability credentials as investors increasingly question companies on their impact on the environment and workers.
Blackstone's investment will provide capital to accelerate Invenergy's renewables development activities, the company said in a statement.
Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) and Invenergy management remain majority owners of the company, while Invenergy will continue as managing member.
Blackstone said the investment was made through funds managed by Blackstone Infrastructure Partners.
Recommended Reading
OFS Sector Loses Jobs, but Trade Org Says Growth Potential Remains
2024-05-08 - According to analysis by the Energy Workforce & Technology Council, the OFS job market may still have potential for growth despite a slight decrease in the sector in April.
Exxon Appoints Maria Jelescu Dreyfus to Board
2024-05-08 - Dreyfus is CEO and founder of Ardinall Investment Management, a sustainable investment firm, and currently serves on the board of Cadiz Inc. and Canada-based pension fund CDPQ.
E&P BW Energy Undergoes ‘Technical’ Ownership Restructuring
2024-05-08 - The restructuring will not involve any change to the ultimate control of BW Energy as the shares currently held by BW Group will be sold to BW Energy Holdings.
Hess Midstream Subsidiary Plans Private Offering of Senior Notes
2024-05-08 - The proposed issuance is not expected to have a meaningful impact on Hess Midstream’s leverage and credit profile, according to Fitch Ratings.
Wood Mackenzie Appoints Jason Liu as CEO
2024-05-07 - Liu replaces former CEO Mark Brinin, who is departing to pursue other opportunities, Wood Mackenzie said.