The Blackstone Group injected $3 billion in Invenergy, a US multinational focused on power generation development and operations, in green push, Bloomberg reported.
This follows the alternative asset manager giant's $13 billion commitment in 2019 to back clean energy transition and Invenergy — being a leader in the renewable energy sector — posed a lucrative investment spot.
Projects undertaken by the independent renewable developer managed to neutralize 167 million tons of carbon dioxide.
Moreover, the firm is constructing the largest wind and solar projects in the US.
“Blackstone is committed to investing behind the energy transition and we are excited to partner with Invenergy, which is the clear independent leader in the renewable energy sector,” reported Bloomberg, citing Sean Klimczak, global head of infrastructure at Blackstone.
Additionally, the corporation revealed a plan in 2020 in which it pledged to cut carbon emissions by 15 percent across new investments.