Engie North America Patners With Climate Investor For Distributed Generation Portfolio

• ENGIE North America and also Hannon Armstrong, a leading investor in climate change remedies, introduced a brand-new partnership to jointly buy a Distributed Generation (DG) portfolio of solar and also solar-plus-storage properties situated across the United States.

The portfolio is included a diversified set of area solar as well as commercial & industrial (C&I) ground-mounted, carport and also rooftop solar as well as solar-plus-storage projects (around 70 MW in total) located across the U.S., including states of Massachusetts, Illinois, Vermont, California, Texas, and Arizona.

" ENGIE delights in to companion with Hannon Armstrong on this portfolio, which further demonstrates ENGIE's management and also strong commitment to climate action goals towards its customers. This brand-new partnership strengthens the ambitions of our companies," stated Gwenaëlle Avice-Huet, Executive Vice President, accountable of the Renewable as well as Hydrogen Business Units France, responsible for the Global Renewable Business Line and CEO of the North America Business Unit. "This program signals better onward momentum as we function alongside our consumers towards a carbon neutral future."

" We are delighted to increase our programmatic relationship with ENGIE with this most recent agreement," claimed Hannon Armstrong Chairman and also CEO Jeffrey W. Eckel. "This collaboration highlights among the key toughness of our historic core worth proposition to customers of carrying out on scalable financial investment remedies for smaller sized, dispersed tidy energy projects that are essential to a climate-positive future."

The contract will allow ENGIE to rely on dedicated capital by Hannon Armstrong via December 31, 2021, to finance DG possessions throughout the U.S. ENGIE will certainly preserve partial ownership and supply development, construction, operational, asset management, as well as management solutions. Hannon Armstrong will certainly supply capital to ENGIE through an one-of-a-kind structure that will bring effectiveness to an onward circulation of projects, leveraging tax equity financing through an upper-tier arrangement with Morgan Stanley. Hannon Armstrong's cooperation with Morgan Stanley on this portfolio represents a growth of the firms' connection in acknowledgment of Morgan Stanley ending up being the initial U.S. financial institution to devote to revealing portfolio greenhouse gas emissions as well as backing the press toward unified dimension of financed emissions by means of the Partnership for Carbon Accounting Financials (PCAF).

Distributed generation stands for an essential item of ENGIE's U.S. solar-plus-storage market strategy as it stands for a sizable share of the total non-residential solar-plus-storage market. Distributed clean power generation, consisting of the community solar projects consisted of in the portfolio, foster accessibility to renewable resource as well as is a crucial part of the tidy energy targets and passions of cities, areas, company and utility clients. ENGIE presently possesses as well as operates about 300 MW of DG solar properties.

Hannon Armstrong is the first U.S. public business solely dedicated to investments in environment adjustment solutions, giving capital to leading companies in power efficiency, renewable resource, as well as other sustainable framework markets. With greater than $6 billion in managed properties since September 30, 2020, Hannon Armstrong's core purpose is to make climate-positive financial investments with remarkable risk-adjusted returns