Hannon Armstrong Sustainable Infrastructure Capital Inc. (HASI), an investor in local weather options, has closed two new programmatic investments in grid-connected renewable vitality belongings developed, owned and operated by The AES Corp.
In accordance with the settlement, which was signed on December 22, 2022, HASI will make a standard fairness funding in an roughly 1.3 GW working portfolio of photo voltaic and wind tasks situated in six states: Arizona , California, New York, South Dakota, Utah and Virginia. As well as, HASI is financing land owned by AES for a photo voltaic mission and a standalone battery vitality storage system in California.
“We’re happy to broaden our programmatic relationship with AES by this new partnership, which is designed to encourage extra investments over the subsequent a number of years,” mentioned Susan Nickey, chief consumer officer of Hannon Armstrong. “AES’ mission to speed up the way forward for vitality and create a sustainable future is completely aligned with our mission as a climate-positive investor.”
“AES is dedicated to accelerating a greener, smarter vitality future,” added Leo Moreno, president of AES Clear Vitality. “This funding creates a possibility to broaden our improvement of renewable vitality tasks, rising our portfolio of wind, photo voltaic and battery storage services throughout the US”
In accordance with the phrases of the fairness funding within the renewable vitality portfolio, HASI intends to amass a 49% fairness curiosity within the portfolio which incorporates 17 working photo voltaic tasks, and one wind mission. With a weighted common remaining contract life of roughly 18 years, the portfolio’s money flows are contracted to a various group of main company traders, utilities and off-takers within the municipality. AES will proceed to personal and function the belongings.
