ENGIE North America and Hannon Armstrong have announced a new partnership to jointly invest in a distributed generation portfolio of solar and solar-storage assets located across the US. The portfolio is comprised of a diversified set of community solar, commercial and industrial, ground-mounted, carport, rooftop solar and solar-storage projects. The cumulative capacity of these projects will be around 70 MW and will be located across the US including Massachusetts, Illinois, Vermont, California, Texas, and Arizona.
The agreement will allow ENGIE to rely on committed capital by Hannon Armstrong to finance these assets. ENGIE will retain partial ownership and provide development, construction, operational, asset management, and administrative services. Hannon Armstrong will also collaborate with Morgan Stanley on this partnership.
“ENGIE is pleased to partner with Hannon Armstrong on this portfolio, which further demonstrates ENGIE’s leadership and strong commitment to climate action goals towards its clients. This new partnership reinforces the ambitions of our organizations,” said Gwenaëlle Avice-Huet, Executive Vice President, in charge of the Renewable and Hydrogen Business Units France, responsible for the Global Renewable Business Line and CEO of the North America Business Unit. “This program signals further forward momentum as we work alongside our customers towards a carbon neutral future,” he added.
“We are delighted to expand our programmatic relationship with ENGIE with this latest agreement,” said Jeffrey W. Eckel, Chairman and CEO, Hannon Armstrong. “This partnership highlights one of the key strengths of our historic core value proposition to clients of executing on scalable investment solutions for smaller, distributed clean energy projects that are essential to a climate-positive future,” he added.