Engie has agreed to sell a 49 percent stake in a 2.3-gigawatt U.S. renewables portfolio to Hannon Armstrong, an investor in climate change solutions.
The portfolio consists of 1.8 gigawatts of onshore wind and 0.5 gigawatts of solar photovoltaic projects. Hannon Armstrong will take immediate ownership of 49 percent of 663 megawatts of commissioned wind projects. The remaining 1.6 gigawatts of projects, currently under construction, will be transferred into the partnership upon commissioning.
Following the sale, Engie will retain a controlling share in the portfolio and continue to manage the assets.
“The U.S. is a key growth market for our renewables business, where we have a strong pipeline of opportunities and a solid development and operational platform to grow from,” said Gwenaelle Avice-Huet, executive vice president responsible for ENGIE Renewable business line and CEO of ENGIE North America, in a statement.
Engie has a goal of commissioning 9 g
