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.
2022-11-15 - The current round of pipeline expansions means more capacity and consolidation in the Permian Basin.
2022-10-02 - Northern Oil and Gas (NOG) agreed to acquire certain nonoperated working interests in the core of the Delaware Basin from Alpha Energy Partners.
2022-10-11 - Northern Oil and Gas (NOG) has significantly boosted its nonop position in the Permian Basin so far in 2022, adding nearly $400 million worth of additional acquisitions in the Permian since August.
2022-09-12 - The assets are comprised of a legacy gas system in the Marcellus Shale in West Virginia that was acquired by Crestwood from Antero Resources in 2012.
2022-10-20 - In its latest acquisition, NOG agreed to acquire a 36.7% working interest in the Mascot Project from Midland-Petro D.C. Partners LLC in Midland County, Texas, for a purchase price of $330 million in cash.