Hannon Armstrong Buys $107 Mln Renewable Energy PortfolioJustin Doom
Hannon Armstrong Sustainable Infrastructure Capital Inc., a renewable-energy financing company, bought a $107 million portfolio of land and leases for solar and wind projects.
The deal was structured as a takeover of American Wind Capital Co., while including no debt, liabilities or employees, which will be transfered to a separate company, Annapolis, Maryland-based HASI said in a statement today.
The acquisition includes more than 7,500 acres (3,000 hectares) of land leased to three solar farms that’s worth about $60 million and supports projects by companies including Southern Co. and First Solar Inc., HASI said.
The cap on borrowing from its project financing facility was also expanded by $200 million to $900 million, HASI said, without naming the lenders.