EUROPEAN COMMISSION DG Competition

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 03/05/2023

In electronic form on the EUR-Lex website under document number 32023M11092

EUROPEAN COMMISSION

Brussels, 3.5.2023 C(2023) 3088 final

PUBLIC VERSION

Blackstone Inc. 345 Park Avenue New York, NY 10154 United States of America

CDPQ Investments (U.S.) Inc. Édifice Jacques-Parizeau 1000 place Jean-Paul-Riopelle Montréal, Québec H2Z, 2B3 Canada

Invenergy Renewables Global LLC 1 S. Wacker Dr., Suite 1800 Chicago, IL 60606 United States of America

Dear Sir or Madam,

1.1. On 5 April 2023, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation, by which the undertakings Blackstone Inc. (“Blackstone”) (United States of America), Caisse de dépôt et placement du Québec (“CDPQ”) (Canada), and Invenergy IRH Holdings LLC (“Invenergy”) controlled by Invenergy Investment Company LLC (“Invenergy

OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology of the TFEU will be used throughout this decision.

OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).

Commission européenne/Europese Commissie, 1049 Bruxelles/Brussel, BELGIQUE/BELGIË - Tel. +32 22991111

2.Group”) (both United States of America), will acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control over the whole of the undertakings AEP Renewables LLC, AEP Wind Holdings LLC, Trent Wind Farm LLC, Desert Sky Windfarm LLC (all of United States of America) (together, the “Target Companies”), controlled by American Electricity Power Company Inc. by way of purchase of shares.

2. The business activities of the undertakings concerned are the following:

-− Blackstone is a global asset manager,

-− CDPQ is a long-term institutional investor that manages the funds of its depositors, primarily public pension and insurance plans from Québec,

-− Invenergy operates Invenergy Group’s renewable energy business. Invenergy Group develops, owns and operates large-scale renewable and other clean energy generation and storage facilities in North America, Latin America, Asia and Europe,

-− The Target Companies own renewable energy generation facilities and related assets in the United States of America.

3.3. After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004.

4.4. For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.

For the Commission

(Signed) Olivier GUERSENT Director-General

3Publication in the Official Journal of the European Union No C 133, 17.04.2023, p. 9.

4OJ C 366, 14.12.2013, p. 5.

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