The European Commission has approved the acquisition of joint control over Invenergy Renewables Holdings LLC by Blackstone Inc., Invenergy IRH Holdings LLC and Canadian Caisse de dépôt et Placement du Québec (CDPQ).
The EC concluded that the deal, which primarily concerns the renewable energy sector, will not cause concerns from the point of view of competition, since companies operate in different markets. The decision was made as part of a simplified procedure for reviewing merger transactions.
In 2023, American Electric Power (AEP) entered into an agreement with Blackstone, CDPQ and IRG Acquisition Holdings, a subsidiary of Invenergy, to sell its portfolio of assets to Invenergy Renewables Holdings for $1.5 billion.
The asset portfolio includes 14 projects in 11 American states, accounting for 1,200 MW of wind energy and 165 MW of solar energy.
Blackstone and CDPQ own large stakes in Invenergy. CDPQ initially invested in Invenergy in 2014 and has been increasing its stake in the company over the past few years with an investment of $1.0 billion in 2020. In 2023, Blackstone invested $3 billion in Invenergy.
Invenergy Renewables LLC is an American company in the field of renewable energy sources, mainly in the field of wind energy. The company owns assets in projects with a capacity of more than 20,000 MW.
Blackstone Inc. is an American alternative investment management company headquartered in New York (USA).
CDPQ is an institutional investor in the management of several public pension plans and insurance programs in Quebec (Canada).
Invenergy IRH Holdings is a multinational company operating power plants. The company develops and manages electricity generation and storage projects in North and South America, Europe and Asia. The headquarters is located in Chicago (Illinois).
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