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Invenergy inks equity deals with institutional investors to reduce debt

Invenergy LLC plans to reduce debt and increase financial resources following two new equity transactions with institutional investors.

In one transaction, the Caisse de dépôt et placement du Québec increased its economic ownership in Invenergy Renewables LLC to 52.4%. Invenergy will remain as the managing member of Invenergy Renewables, both parties said in separate news releases on May 22. The Caisse, a Canadian pension fund manager, first invested in Invenergy wind energy projects in 2013 and took a direct stake in Invenergy Renewables a year later.

In a second transaction, Invenergy's natural gas generation holding company, Invenergy Clean Power LLC, entered a 50/50 partnership with Australia-headquartered global investment firm AMP Capital Investors Ltd. to invest in an operating and development portfolio of natural gas-fired facilities across the U.S., Canada and Mexico.

Invenergy said the partnership with AMP Capital excludes its Energía del Pacífico project under development in El Salvador and its Clear River Energy Center under development in Rhode Island.

The transactions are subject to certain regulatory approvals, including with the Federal Energy Regulatory Commission.