Blackstone Infrastructure Partners has completed an equity investment of about $1 billion into Invenergy, boosting its total investment in the company to nearly $4 billion, the renewable energy developer said June 21.

The privately-held, Chicago-based developer said it plans to use the additional capital to accelerate its existing portfolio of projects and support the company’s growth in the U.S. and abroad.

“Invenergy has a premier platform for developing, owning and operating clean energy projects,” said Matthew Runkle, senior managing director for Blackstone Infrastructure, in a news release, “and we are excited to continue supporting the realization of these projects and their important contribution to decarbonizing the energy sector.”

Invenergy’s projects include energy storage facilities, solar and wind farms, interregional transmission and clean hydrogen initiatives. The company is also developing floating wind energy offshore California, where subsidiary Invenergy California Offshore LLC was named a provisional winner in 2022 by the U.S. Bureau of Ocean Energy Management to develop 80,418 acres of seabed for offshore wind.

Besides Blackstone and Invenergy management, Invenergy’s ownership includes Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ).