Hannon Armstrong eyes 49% stake in 18 AES solar and wind farms after twin investments
The common equity transactions cover a 1.3GW portfolio that includes facilities across six US states including Arizona, California and New York
Hannon Armstrong closed two investments in an 18-project AES portfolio that includes Clover Creek solar farm in Utah (shown) Photo: AES The common equity transactions cover a 1.3GW portfolio that includes facilities across six US states including Arizona, California and New York
Hannon Armstrong Sustainable Infrastructure Capital has closed two investments in a 1.3GW portfolio of grid-connected US solar and wind projects owned by power and utility company AES with the intention of acquiring a 49% equity interest. The projects are in Arizona, California, New York, South Dakota, Utah, and Virginia. With a weighted average 18-year remaining contract life, the portfolio's cash flows are contracted with a diverse group of predominately investment-grade corporate, utility, and municipal off-takers. AES will continue to majority own and operate the assets.
Editor's note: US District Judge Mary Ann Vial Lemmon dismissed the litigation against the owners of Mariner Shipyard in April 2010.