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Invenergy Strengthens Its Diversified Clean Energy Platform Through New Equity Transactions With CDPQ and AMP Capital
CHICAGO, May 22, 2018 /PRNewswire/ -- Invenergy, North America's largest privately held renewable energy company, today announced significant new equity transactions with institutional investors Caisse de dépôt et placement du Québec (CDPQ) and AMP Capital. With respect to both transactions, Invenergy will maintain day-to-day management of the business, and proceeds will be used to reduce company debt and increase Invenergy's financial resources. "Invenergy has created a world-class platform for the development and operations of clean energy projects," said Jim Murphy, President & Chief Operating Officer at Invenergy. "Both CDPQ and AMP Capital share a longer-term perspective and bring financial strength to our business, positioning Invenergy for years of continued growth." A new chapter in Invenergy Renewables' partnership with CDPQ "Invenergy is a true renewable energy leader. Over the years, we have seen the company's impressive know-how, particularly in developing and operating projects, and its capacity to continuously innovate," said Rana Ghorayeb, Senior Vice-President, Investment, Infrastructure at CDPQ. "The wind and solar energy sector is a promising one for CDPQ, and this investment is in line with our strategy announced last fall to increase our exposure to low-carbon assets." Invenergy Clean Power LLC enters into an agreement with AMP Capital "This transaction represents a unique opportunity to invest in the North American power sector via a diversified portfolio, partnering with a premier developer and operator of power generation assets on a 50/50 basis," said Dylan Foo, Partner & Head of Americas Infrastructure Equity at AMP Capital. "The investment offers an excellent entry point into a highly attractive sector, due to the caliber of Invenergy, the quality and diversification of the portfolio, and the growth prospects of the development platform." These investments are a reflection of Invenergy's strong track record as a clean energy industry leader. Both transactions are subject to certain regulatory approvals, including with the U.S. Federal Energy Regulatory Commission. About Invenergy Invenergy and its affiliated companies have developed more than 20,000 megawatts of projects that are in operation, construction or contracted, including wind, solar, natural gas-fueled power generation and energy storage projects. For more information, please visit www.invenergyllc.com. About Caisse de dépôt et placement du Québec About AMP Capital
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