HOUSTON and ANNAPOLIS, Md., Dec. 7,
2020 /PRNewswire/ -- ENGIE North America and
Hannon Armstrong (NYSE: HASI), a
leading investor in climate change solutions, announce a new
partnership to jointly invest in a Distributed Generation (DG)
portfolio of solar and solar-plus-storage assets located across
the United States.
The portfolio is comprised of a diversified set of community
solar and commercial & industrial (C&I) ground-mounted,
carport and rooftop solar and solar-plus-storage projects (around
70 MW in total) located across the U.S., including Massachusetts, Illinois, Vermont, California, Texas, and Arizona.
"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."
"We are delighted to expand our programmatic relationship with
ENGIE with this latest agreement," said Hannon Armstrong Chairman and CEO Jeffrey W. Eckel. "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."
The agreement will allow ENGIE to rely on committed capital by
Hannon Armstrong through
December 31, 2021 to finance DG
assets across the U.S. ENGIE will retain partial ownership and
provide development, construction, operational, asset management,
and administrative services. Hannon
Armstrong will provide capital to ENGIE through a unique
structure that will bring efficiency to a forward flow of projects,
leveraging tax equity financing through an upper-tier arrangement
with Morgan Stanley. Hannon
Armstrong's collaboration with Morgan Stanley on this
portfolio represents an expansion of the firms' relationship in
recognition of Morgan Stanley becoming the first U.S. bank to
commit to disclosing portfolio greenhouse gas emissions and backing
the push toward unified measurement of financed emissions via the
Partnership for Carbon Accounting Financials (PCAF).
Distributed generation represents an important piece of ENGIE's
U.S. solar-plus-storage market strategy as it represents a sizable
share of the overall non-residential solar-plus-storage market.
Distributed clean energy generation, including the community solar
projects included in the portfolio, foster access to renewable
energy and is a key component of the clean energy targets and
ambitions of cities, communities, corporate and utility customers.
ENGIE currently owns and operates approximately 300 MW of DG solar
assets.
About ENGIE North America
ENGIE North America Inc.
offers a range of capabilities in the
United States and Canada to
help customers decarbonize, decentralize and digitalize their
operations. These include comprehensive services to help customers
run their facilities more efficiently and optimize energy and other
resource use and expense; clean power generation; energy storage;
and retail energy supply that includes renewable, demand response,
and on-bill financing options. Nearly 100% of the company's power
generation portfolio is low carbon or renewable. Globally, ENGIE
S.A. relies on their key businesses (gas, renewable energy,
services) to offer competitive solutions to customers. With 170,000
employees, customers, partners and stakeholders, we are a community
of Imaginative Builders, committed every day to more harmonious
progress. For more information on ENGIE North America, please visit
our LinkedIn page or Twitter feed,
www.engie-na.com and www.engie.com.
About Hannon Armstrong
Hannon Armstrong (NYSE: HASI) is the
first U.S. public company solely dedicated to investments in
climate change solutions, providing capital to leading companies in
energy efficiency, renewable energy, and other sustainable
infrastructure markets. With more than $6
billion in managed assets as of September 30, 2020, Hannon Armstrong's core purpose is to make
climate-positive investments with superior risk-adjusted
returns. For more information, please
visit www.hannonarmstrong.com. Follow Hannon Armstrong on LinkedIn and
Twitter @HannonArmstrong.
ENGIE North America Media Contact:
Sandrine Deparis, sandrine.deparis@engie.com,
(202) 855 3705
Hannon Armstrong Media and Investor Relations
Contacts:
Gil Jenkins,
media@hannonarmstrong.com, (443) 321 5753
Chad Reed,
Investors@hannonarmstrong.com, (410) 571 6189
View original content to download
multimedia:http://www.prnewswire.com/news-releases/engie-north-america-partners-with-hannon-armstrong-to-secure-172-million-of-investment-for-distributed-solar-plus-storage-portfolio-301187756.html
SOURCE ENGIE North America