Hannon Armstrong Sustainable Infrastructure Capital (HASI), a US-based energy investment company, has invested in two grid-connected renewable energy assets that are owned and operated by electricity provider AES. The company has invested in a 1.3 GW portfolio of renewable energy projects, including solar and wind projects created, owned, and managed by AES.

Additionally, it plans to buy a 49 per cent stake in the portfolio, which consists of one wind project and 17 current solar projects.  The projects are located across six US states, namely Arizona, California, New York, South Dakota, Utah and Virginia. The assets, whose cash flows are contracted with a number of corporate, utility, and municipal off-takers, will continue to be owned and operated by AES.

The investment company is also providing funding for AES-owned land in California to be used for a solar project and stand-alone battery energy storage system. The land financings build on AES’ clean energy business in the US’s track record of solar land transactions. With more than $9 billion in assets under management, HASI makes investments in the markets for sustainable infrastructure, renewable energy, and energy efficiency.

In December 2022, HASI Capital Inc. announced a preferred equity investment in about 1.6 GW onshore wind and utility-scale solar portfolio which was developed and operated by the Clearway Energy Group in the United States. The portfolio includes 974 MW of onshore wind, 192 MW of solar capacity, and 557 MW of utility-scale solar combined with 395 MW of co-located storage. It covers seven projects in total, located in California, Hawaii, West Virginia, and Texas.

REGlobal’s Views: As energy security and clean energy transition becomes a key priority globally, investors are quickly ramping their plans to incorporate more and more renewables in their portfolios. Thus, large investors are now making significant equity investments in big solar, wind and even storage assets. The United States, which continues to be a top market for renewables, is witnessing many such large deals.