US investor acquires stake in 1.3 GW AES portfolio

• Hannon Armstrong Sustainable Infrastructure Capital has acquired a 49% interest in the wind, solar assets

Hannon Armstrong Sustainable Infrastructure (HASI) Capitalhas shut two new programmatic financial investments in grid-connected renewable energy assets created, owned and operated by the AES Corporation.

Under the agreement, HASI will certainly make a common equity investment in an around 1.3 GW portfolio of running solar as well as wind projects located across six states.

These remain in Arizona, California, New York City, South Dakota, Utah, as well as Virginia.

According to the regards to the equity investment in the renewable resource portfolio, HASI means to acquire a 49% equity interest in the portfolio that consists of 17 operating solar projects, and also one wind project.

With a weighted typical remaining agreement life of around 18 years, the portfolio's cash flows are gotten with a diverse group of predominately investment-grade corporate, utility, as well as municipal off-takers.

AES will remain to have as well as operate the assets.

In addition, HASI is financing land possessed by AES for a solar project as well as a standalone battery energy storage space system in California.

AES has a 51GW growth pipeline in the US.

Principal client officer at Hannon Armstrong Susan Nickey said: "We are enjoyed expand our programmatic relationship with AES through this new collaboration, which is created to motivate added financial investments over the following numerous years.

" AES' purpose to accelerate the future of energy and also produce a sustainable future is absolutely straightened with our mission as a climate favorable investor."

President of AES Clean Energy Leo Moreno added: "AES is committed to accelerating a greener, smarter energy future.

" This investment produces an opportunity to expand our development of renewable resource projects, expanding our portfolio of wind, solar and also battery energy storage centers throughout the US."