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Released June 23, 2023 | sugar land
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Researched by Industrial Info Resources (Sugar Land, Texas)--Earlier this week, privately held Invenergy (Chicago, Illinois) announced funds managed by Blackstone Infrastructure Partners--a unit of Blackstone Incorporated (NYSE:BX) (New York, New York)--added to its investment in Invenergy's renewable business to support its expansion. The $1 billion equity investment comes after Blackstone invested nearly $3 billion last year. Industrial Info is tracking about $40 billion worth of projects from Invenergy and its subsidiaries worldwide, with nearly 80% of the spend in the U.S., including $4.6 billion attributed to U.S. wind and solar power generation projects that have a medium-to-high probability (70-99%) of moving forward as planned.
Invenergy's ownership includes Blackstone and Canadian investment group CDPQ (Quebec City).
In a press release, the company said, "Invenergy will leverage this additional investment to support the continued growth of the company in the United States and around the world, as well as its portfolio of projects which includes some of the world's largest solar and land-based wind farms, advanced energy storage facilities, offshore wind projects, high-voltage direct current interregional transmission lines, clean hydrogen initiatives, solar panel manufacturing...."
This is not the only development for Invenergy's renewables business this year: in February, a partnership among Invenergy, Blackstone and CDPQ, named IRG Acquisition Holdings (IRG), announced it entered into an agreement with American Electric Power (NASDAQ:AEP) (AEP) (Columbus, Ohio) to acquire AEP's 1,365-megawatt (MW) unregulated, contracted renewables portfolio for an enterprise value of $1.5 billion, including project debt. Invenergy said the portfolio includes 14 projects in 11 states and comprises 1,200 MW of wind generation and 165 MW of solar projects but did not mention any specific projects.
Invenergy's solar development is buoyed by the Samson PV Solar Energy Center in Cunningham, Texas, northeast of Dallas, which is being developed in five phases for a total capital investment value of $1.6 billion. It entails the construction of two separate facilities with a combined capacity of 1,310 MW: Samson Solar (three phases totaling 700 MW of solar power) and Delilah Solar (two phases totaling 610 MW).
The first two Samson phases are operational; the $325 million third phase at Samson Solar is expected to wrap up in June, the $360 million first phase at Delilah by the end of the year, and the $310 million second phase at Delilah in March 2024. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here to read related project reports.
Also under construction is a $280 million solar plant near Paris, Wisconsin, southwest of Milwaukee. The facility will use approximately 700,000 solar photovoltaic (PV) panels from Jinko Solar (NYSE:JKS) (Shanghai, China) on a single-axis tracking system to generate 200 MW of solar power. Construction on the project kicked off in 2021, and commercial operations are expected to begin later this year. Also under construction is the addition of an accompanying 110-MW battery energy storage system (BESS); the project is on the same timeline as the solar plant. Subscribers can read detailed reports on the Paris solar and BESS projects.
In terms of wind projects in the development stage, Invenergy expects the Rock Creek Wind Energy Center Phase 1 in Wyoming will kick off in October. The facility would utilize 36 wind turbines from General Electric (NYSE:GE) (Boston, Massachusetts) to provide 190 MW of wind generation. The project is expected to wrap up in late 2024. Click here for more information.
The company's highest-valued renewable-generation projects in the U.S. include two grassroot solar plants in Ohio, both of which are expected to kick off in December and begin commercial operations in 2025: the 300-MW, proposed $450 million Yellow Wood Solar Energy Center in Clinton County, and the 275-MW, $380 million Cadence Solar Energy Center in Union County, about 35 miles northwest of Columbus. Subscribers can read reports on the Yellow Wood and Cadence projects.
Subscribers to the GMI project and plant databases can click here for all project reports referenced in this article, and click here for the related plant profiles.
Click here for a full list of projects from Invenergy worldwide.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Invenergy's ownership includes Blackstone and Canadian investment group CDPQ (Quebec City).
In a press release, the company said, "Invenergy will leverage this additional investment to support the continued growth of the company in the United States and around the world, as well as its portfolio of projects which includes some of the world's largest solar and land-based wind farms, advanced energy storage facilities, offshore wind projects, high-voltage direct current interregional transmission lines, clean hydrogen initiatives, solar panel manufacturing...."
This is not the only development for Invenergy's renewables business this year: in February, a partnership among Invenergy, Blackstone and CDPQ, named IRG Acquisition Holdings (IRG), announced it entered into an agreement with American Electric Power (NASDAQ:AEP) (AEP) (Columbus, Ohio) to acquire AEP's 1,365-megawatt (MW) unregulated, contracted renewables portfolio for an enterprise value of $1.5 billion, including project debt. Invenergy said the portfolio includes 14 projects in 11 states and comprises 1,200 MW of wind generation and 165 MW of solar projects but did not mention any specific projects.
Invenergy's solar development is buoyed by the Samson PV Solar Energy Center in Cunningham, Texas, northeast of Dallas, which is being developed in five phases for a total capital investment value of $1.6 billion. It entails the construction of two separate facilities with a combined capacity of 1,310 MW: Samson Solar (three phases totaling 700 MW of solar power) and Delilah Solar (two phases totaling 610 MW).
The first two Samson phases are operational; the $325 million third phase at Samson Solar is expected to wrap up in June, the $360 million first phase at Delilah by the end of the year, and the $310 million second phase at Delilah in March 2024. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here to read related project reports.
Also under construction is a $280 million solar plant near Paris, Wisconsin, southwest of Milwaukee. The facility will use approximately 700,000 solar photovoltaic (PV) panels from Jinko Solar (NYSE:JKS) (Shanghai, China) on a single-axis tracking system to generate 200 MW of solar power. Construction on the project kicked off in 2021, and commercial operations are expected to begin later this year. Also under construction is the addition of an accompanying 110-MW battery energy storage system (BESS); the project is on the same timeline as the solar plant. Subscribers can read detailed reports on the Paris solar and BESS projects.
In terms of wind projects in the development stage, Invenergy expects the Rock Creek Wind Energy Center Phase 1 in Wyoming will kick off in October. The facility would utilize 36 wind turbines from General Electric (NYSE:GE) (Boston, Massachusetts) to provide 190 MW of wind generation. The project is expected to wrap up in late 2024. Click here for more information.
The company's highest-valued renewable-generation projects in the U.S. include two grassroot solar plants in Ohio, both of which are expected to kick off in December and begin commercial operations in 2025: the 300-MW, proposed $450 million Yellow Wood Solar Energy Center in Clinton County, and the 275-MW, $380 million Cadence Solar Energy Center in Union County, about 35 miles northwest of Columbus. Subscribers can read reports on the Yellow Wood and Cadence projects.
Subscribers to the GMI project and plant databases can click here for all project reports referenced in this article, and click here for the related plant profiles.
Click here for a full list of projects from Invenergy worldwide.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
