Expanding Climate Solutions
Hannon Armstrong Sustainable Infrastructure (HASI), a prominent investor in climate solutions, has revealed its latest investment in a renewable energy portfolio owned and operated by The AES Corporation.
Portfolio Details
The portfolio, totaling 605 MW, encompasses solar and solar-plus-storage assets across 11 states in the U.S. Notable states include Arizona, California, New York, and Rhode Island. Over 200 operational renewable energy projects form the majority of the portfolio, featuring community and commercial & industrial solar assets. Additionally, more than a third of the capacity is paired with battery energy storage.
Financial Agreement
The financial agreement, closing on December 22, 2023, solidifies HASI’s structured equity investment in the portfolio. The assets have a weighted average remaining contract life of 16 years, with diverse off-takers, including investment-grade corporate, utility, and municipal entities. AES will retain ownership and operational control of the assets.
Strengthening Partnerships
This investment marks an extension of the collaboration between HASI and AES. Building on their successful common equity investment in a 1.3-GW portfolio announced in January 2023, the two companies demonstrate a commitment to advancing the energy transition.
Statements from Leadership
Susan Nickey, Chief Client Officer of HASI, expressed immense pride in advancing the partnership, emphasizing AES’s outstanding leadership in aligning renewable energy supply with demand. James Marshall, Chief Financial Officer for AES’ clean energy business in the U.S., highlighted the investment’s role in freeing up capital for developing new clean energy projects.
Source：businesswire.com
