Hannon Armstrong to acquire 49% of AES 1.3-GW renewables portfolio

• United States climate solutions investor Hannon Armstrong Sustainable Infrastructure Capital Inc (NYSE: HASI) stated today it has authorized an agreement to purchase a 1.3-GW renewable resource portfolio created, owned and also operated by US power firm The AES Corporation (NYSE: AES).

HASI will acquire a 49% equity stake in the portfolio that consists of 17 operating solar projects as well as one wind farm located throughout six states - Arizona, California, New York City, South Dakota, Utah and also Virginia. The assets have contracts with a group of mostly investment-grade corporate, energy and also municipal off-takers with a weighted average staying contract life of regarding 18 years.

Additionally, HASI is funding land had by AES for a solar project as well as a standalone battery energy storage center in California, building on a five-year collaboration on solar land handle AES' clean energy service in the US. "These senior-level land financing and also common equity deals with AES are a great instance of how we assist solve the multiple financial investment demands of our clients, all negotiated with an incorporated group," stated Manny Haile-Mariam, handling supervisor of Hannon Armstrong.

AES Clean Energy president Leo Moreno stated that the investment offers an opportunity to increase the company's growth of renewable resource projects.

Along With Air Products (NYSE: APD), AES recently introduced strategies to spend USD 4 billion (EUR 3.8 bn) to construct a huge green hydrogen plant in Texas.