Hannon Armstrong Sustainable Infrastructure Capital, Inc. ("Hannon Armstrong," "we," "our," or the "Company") (NYSE: HASI), a leading investor in sustainable infrastructure, including energy efficiency and renewable energy, today announced a $144 million investment to acquire over 4,000 acres of land that is leased under long-term contracts to over 20 individual solar projects with investment grade off-takers. The projects have an aggregate capacity of over 690 megawatts direct current (DC).
"We continue to find ways to optimize the capital stack for our clients' projects, creating economic value for the client and Hannon Armstrong," said Hannon Armstrong President and CEO Jeffrey Eckel. "The investment in over 20 individual projects in this transaction supports the continued growth of our very diverse portfolio of assets."
Following this transaction, the Company now has invested approximately $375 million in real estate and owns more than 20,000 acres of land that are leased under long-term agreements to over 45 renewable energy projects and has the rights to payments from land leases for over 50 additional projects. The projects are located in over 15 states.
About Hannon Armstrong: Hannon Armstrong (NYSE: HASI) invests in sustainable infrastructure markets, including energy efficiency and renewable energy. The Company focuses on providing preferred or senior level capital to established sponsors and high credit quality obligors for assets that generate long-term, recurring and predictable cash flows. The Company is based in Annapolis, MD.About sPower: sPower, an AES and AIMCo company, is the largest private owner of operating solar assets in the United States. sPower owns and operates a portfolio of solar and wind assets greater than 1.3 GW and has a development pipeline of more than 10 GW. sPower is owned by a joint venture partnership between The AES Corporation (NYSE: AES), a worldwide energy company headquartered in Arlington, Virginia, and the Alberta Investment Management Corporation, one of Canada’s largest and most diversified institutional investment fund managers.
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