Institutional investor Caisse de depot et placement du Quebec (CDPQ) has increased to 52.4% its economic ownership in the renewables business of Chicago-based Invenergy LLC, it was announced today.
The transaction comes after in 2013 CDPQ invested in wind farms operated by Invenergy Renewables LLC and then, in 2014, bought a direct stake in the latter. The institutional investor has since been increasing its interest gradually, it said in a statement today.
Invenergy Renewables develops wind, solar and advanced energy storage projects in the Americas, Europe and Asia. It has so far been involved in projects totalling 14 GW.
The announcement notes that Invenergy will continue to be the managing member of the renewables-focused business. At the same time, its natural gas generation holding company, Invenergy Clean Power LLC, has also attracted an institutional investor -- AMP Capital, with whom it will jointly invest in an operating and development portfolio of natural gas power generation facilities across the United States, Canada and Mexico.
"Both CDPQ and AMP Capital share a longer-term perspective and bring financial strength to our business, positioning Invenergy for years of continued growth," said Jim Murphy, president and chief operating officer at Invenergy.
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