Invenergy gets $1bn investment boost from Canadian fund manager CDPQ

by Michael Green
Invenergy's Beech Ridge storage project in West Virginia, which uses BYD America’s lithium-ion containerised energy storage system. Photo: Invenergy
US-based renewables and battery storage developer Invenergy has secured a $1bn (£740m) investment boost from Canadian institutional fund manager CDPQ.

CDPQ (Caisse de dépôt et placement du Québec) said the move would help Invenergy Renewables further expand its development of wind, solar and energy storage projects.

Executive VP and head of infrastructure at CDPQ, Emmanuel Jaclot, said the new investment was the fund manager’s largest in the group to date. 

In 2018, CDPQ acquired a 52.4% stake in Invenergy Renewables, while Invenergy continued to the managing member of the company.

'Constructive capital'

Jaclot said: "CDPQ is thrilled to put its constructive capital behind the men and women at Invenergy who passionately develop new renewable projects and thereby contribute to the climate transition.”

Invenergy and its affiliated companies develop, own, and operate large-scale sustainable energy generation and storage facilities in the Americas, Europe and Asia.

The group’s corporate base is in Chicago. Invenergy has developed around 25,000MW of projects that are in operation, construction or contracted, including wind, solar and advanced energy storage projects.