Invenergy Wind Holdings LLC on Jan. 9 wrapped up its divestiture of a roughly 11.4% passive, noncontrolling ownership stake in Invenergy Renewables LLC to CDPQ Renewable Holdings Inc., a subsidiary of a Canadian pension fund manager.
Invenergy Wind and CDPQ Renewable Holdings are parties to an option agreement under which Invenergy Wind had the right to divest up to an 11.382% interest prior to Jan. 10.
The transaction increased CDPQ Renewable Holdings' interest in Invenergy Renewables to about 32.5% from 21.1%, while CDPQ Investments (U.S.) Inc.'s holdings will not change at about 32.5%. Invenergy LLC will remain the managing member of Invenergy Renewables.
FERC approved the deal on Dec. 17, 2018. (FERC docket EC19-20)
CDPQ Renewable Holdings and CDPQ Investments are subsidiaries of Canadian pension fund manager Caisse de dépôt et placement du Québec.