Hannon Armstrong Sustainable Infrastructure Capital, an Annapolis-based investor in climate change solutions, announced a newly-formed partnership with a subsidiary of ENGIE S.A., the largest independent power producer (IPP) and energy efficiency services provider in the world, which will own a 2.3 gigawatt (GW) portfolio of wind and utility-scale solar assets.
The partnership combines Hannon Armstrong’s extensive experience in providing long-term investment for climate solutions with the best-in-class development and operations experience of ENGIE, a global energy and services leader dedicated to accelerating the deployment of clean, affordable, innovative and resilient energy solutions.
On commissioning, the 2.3 GW portfolio will be comprised of 1.8 GW of onshore wind and 0.5 GW of utility-scale solar photovoltaic (PV) projects (13 projects in total) located in five states. Hannon Armstrong will participate in the cash flows from the operations of this diversified portfolio of renewable energy projects, while ENGIE will retain a controlling share in the portfolio and continue to manage the assets.
“We have a common mission to accelerate the rapid adoption of climate change solutions, and we are pleased to partner with ENGIE once again with this new investment that adds significant scale and diversity to our portfolio,” said Hannon Armstrong Chairman and CEO Jeffrey Eckel. “Continuing to build a programmatic investment platform allows both firms to make the investment process more aerodynamic and cost-effective for ENGIE’s ultimate customers.”