Invenergy bags US$3bn investment from Blackstone

Facebook
Twitter
LinkedIn
Reddit
Email
Invenergy’s 10MW Woodville solar project in Ontario, Canada. Image: Invenergy Renewables.

Alternative asset manager Blackstone will invest around US$3 billion in Invenergy Renewables to help drive an accelerated build-out of the solar and wind developer’s clean energy platform.

Following the investment, made through funds managed by Blackstone Infrastructure Partners, Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) and Invenergy management will remain majority owners of the developer, while Invenergy will continue as managing member.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Chicago-headquartered Invenergy has developed more than 175 renewable energy projects totalling nearly 25GW and has a portfolio of solar PV plants in markets such as the US, Canada, Uruguay and Japan.

The company is currently developing what it says will be the largest solar project in the US, the 1,310MW Samson Solar Energy Center in Texas that is due to be operational next year and supply power to corporate off-takers such as Honda, McDonald’s and Google.

Last year saw Invenergy progress with or complete PV plants in US states such as Ohio, Indiana and Nevada, while it is also part of a partnership in New York to bring forward the state’s Clean Path NY project, which would feature 1.8GW of solar.

“Invenergy has built an outstanding platform for delivering clean energy – which is essential to our future – and we are honoured to be a part of their mission,” said Matthew Runkle, senior managing director in the Infrastructure Group at Blackstone.

Blackstone has committed nearly US$13 billion in investments since 2019 that it believes are consistent with the energy transition.

In 2020, the asset manager led an US$850 million recapitalisation of commercial and industrial solar firm Altus Power America before going on to form a new portfolio company focused on financing and owning distributed energy assets later in the year.

Blackstone last year provided developer Strata Solar with US$150 million of capital to help fund the development, construction and ownership of utility-scale solar and storage assets across North America, while funds managed by Blackstone Energy Partners secured a deal in August to buy up to US$500 million of perpetual preferred stock of US solar tracker provider Array Technologies.

21 May 2025
London, UK
The Renewables Procurement & Revenues Summit serves as the European platform for connecting renewable energy suppliers to the future of energy demand. This includes bringing together a community of European off-takers, renewable generators, utilities, asset owners, and financiers. The challenges ahead are complex, but through collaboration, innovation, and a shared vision, we can navigate uncertainties and forge a sustainable energy future. Let us harness our collective knowledge to advance the renewable energy agenda.
25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

May 20, 2025
Changes to tax credits under the Inflation Reduction Act (IRA) could “jeopardise” nearly 300 US solar and energy storage manufacturing facilities, according to trade body the Solar Energy Industries Association (SEIA).
May 19, 2025
IPPs across Europe are rapidly adapting their business models as negative power prices become increasingly prevalent.
May 19, 2025
Lithuanian government-owned utility and renewables developer Ignitis Group has signed a financing deal with SwedBank to support 239MW of solar PV capacity in Latvia.
May 16, 2025
Google will purchase renewable energy certificates from a 600MW solar and energy storage portfolio in the US state of South Carolina.
May 16, 2025
Expanding the grid infrastructure of ASEAN countries could unlock 24GW of new solar capacity, according to Ember Climate.
May 15, 2025
Solar manufacturer Canadian Solar recorded a slight increase in module shipments and endured losses in Q1 amid 'geopolitical complexities.'

Subscribe to Newsletter

Upcoming Events

Solar Media Events
May 21, 2025
London, UK
Solar Media Events
June 17, 2025
Napa, USA
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 8, 2025
Asia