Deal details: The current investment in Invenergy will result in a significant increase in Blackstone Infrastructure Partners’ ownership stake in the platform. This current deal follows Blackstone's prior commitment of $3bn to Invenergy last year. Moving forward, Blackstone will collaborate with the existing shareholders of Invenergy, namely CDPQ and Invenergy management, to drive the expansion of the company's business operations both in the US and Globally. The investment underscores Blackstone's ongoing dedication to supporting Invenergy's growth and success in the renewable energy sector.
Deal rationale: This deal will provide Invenergy with the means to strengthen its renewable energy portfolio in the US without tapping into the expensive debt market. With the capital secured, Invenergy aims to bring its near term pipeline into operation by 2025, which Enerdatics data reveal to be around ~8 GW. This will significantly expand its total developed capacity to surpass 40 GW. Furthermore, the financial resources obtained through this deal will empower Invenergy to pursue attractive opportunities for inorganic growth, similar to its recent acquisition of 1.3 GW of renewable capacity from AEP in the US’ unregulated market in March 2023.
The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
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