Hannon Armstrong Announces $144 million Land Investment Leased to Over 20 Solar Projects With Investment Grade Off-takers
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.