Hannon Armstrong and ENGIE to Jointly Invest in 2.3 GW Portfolio of U.S. Wind and Solar Projects

Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong”) (NYSE: HASI), a leading investor in climate change solutions, today announced a newly-formed partnership with a subsidiary of ENGIE S.A., the largest independent power producer (IPP) and energy efficiency services provider in the world, that will own a 2.3 gigawatt (GW) portfolio of wind and utility-scale solar assets.

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Photo Credit: ENGIE

The partnership combines Hannon Armstrong’s extensive experience in providing long-term investment for climate solutions with the best-in-class development and operations experience of ENGIE, a global energy and services leader dedicated to accelerating the deployment of clean, affordable, innovative and resilient energy solutions.

On commissioning, the 2.3 GW portfolio will be comprised of 1.8 GW of onshore wind and 0.5 GW of utility-scale solar photovoltaic (PV) projects (13 projects in total) located in five states. Hannon Armstrong will participate in the cash flows from the operations of this diversified portfolio of renewable energy projects, while ENGIE will retain a controlling share in the portfolio and continue to manage the assets.

“We have a common mission to accelerate the rapid adoption of climate change solutions, and we are pleased to partner with ENGIE once again with this new investment that adds significant scale and diversity to our portfolio,” said Hannon Armstrong Chairman and CEO Jeffrey W. Eckel. “Continuing to build a programmatic investment platform allows both firms to make the investment process more aerodynamic and cost-effective for ENGIE’s ultimate customers,” added Eckel.

“The U.S. is a key growth market for our renewables business, where we are accelerating fast, from 0 MW in 2018 to 2 GW that should be commissioned in 2020. We have a strong pipeline of opportunities and a solid development and operational platform to grow from. We are delighted to have partnered with Hannon Armstrong, a company solely dedicated to investments in climate change solutions,” said Gwenaelle Avice-Huet, Executive Vice-President responsible for ENGIE Renewables business line and CEO of ENGIE North America.