Hannon Armstrong Sustainable Infrastructure Capital has closed on a $144 million investment to acquire over 4,000 acres of land. The investment is leased under long-term contracts to over 20 individual, investment grade solar projects. Once completed, the projects have an aggregate capacity of over 690 megawatts of direct current. The company has invested approximately $375 million in real estate and owns more than 20,000 acres of land under long-term lease agreements for over 45 renewable energy projects. The firm also holds the rights to payments from land leases for over 50 additional projects which are located in over 15 states.
“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.”
