Hannon Armstrong Sustainable Infrastructure Capital (HASI), an investor in climate solutions, has announced the close of two new programmatic investments in grid-connected renewable energy assets developed, owned and operated by The AES Corp., a Fortune 500 global energy company and one of the largest developers and operators of clean power in the United States, with a 51-gigawatt (GW) development pipeline.
Per the agreement, signed on Dec. 22, 2022, HASI will make a common equity investment in an approximately 1.3-gigawatts (GW) portfolio of operating solar and wind projects located across six states: Arizona, California, New York, South Dakota, Utah and Virginia. Additionally, HASI is financing land owned by AES for a solar project and a standalone battery energy storage system in California.
In accordance with the terms of the equity investment in the renewable energy portfolio, HASI intends to acquire a 49 percent equity interest in the portfolio that includes 17 o