Blackstone invests $1 billion more into Invenergy

By John Tough | June 28, 2023

Last week Blackstone announced another capital infusion into Invenergy. I’ve written about Invenergy in the past for a few reasons: firstly, Invenergy is the largest privately held renewable energy developer and represents the best of the energy transition. The company now manages over $50 billion of assets and is taking on increasingly larger ambitions. Secondly, Energize is fortunate to have access to Invenergy engineers when we evaluate specific software solutions that will could help scale the sustainability movement. We also have Michael Polsky (cofounder & CEO) and Jim Murphy (cofounder & President) of Invenergy as members of Energize’s investment committee alongside me and Katie McClain.

The Invenergy story is increasingly exciting. Why? In addition to the mammoth wind, solar & battery renewables business, the company has recently launched a…

multi-billion dollar transmission business,
multi-billion dollar offshore wind business,
Illuminate: a $600M JV with LONGI to make 5GW of solar panels annually in Ohio
Reactivate: a high growth community solar platform, targeting 3GW of deployed assets by 2030
a hydrogen concept

This investment is in addition to the $3 billion investment from late 2021 and Invenergy’s scale represents the overall new opportunities emerging in the energy transition.