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ENGIE Signs Partnership with Hannon Armstrong for 2.3 GW Renewables Portfolio in the US

Power News - Published on Tue, 07 Jul 2020

Image Source: ENGIE Hannon Armstrong
ENGIE announced the signing of an agreement to sell 49% equity interest in a 2.3 GW US renewables portfolio to Hannon Armstrong, a leading investor in climate change solutions. ENGIE will retain a controlling share in the portfolio and continue to manage the assets. On commissioning, this 2.3 gigawatts portfolio that comprises 1.8 GW of onshore wind and 0.5GW of solar photovoltaic projects, will represent a major milestone in achieving ENGIE’s goal of commissioning 9 GW additional renewable capacity by 2021.

Under the agreement, Hannon Armstrong will take immediate ownership of 49% of 663 megawatts of commissioned wind projects. The remaining 1.6 GW of projects, currently under construction, will be transferred into the partnership upon commissioning. In line with its majority ownership, ENGIE will continue to consolidate the projects in its accounts.

The portfolio comprises 13 projects, 9 onshore wind projects and 4 solar, located in key markets in the United States, including the Electric Reliability Council of Texas, Midcontinent Independent System Operato, PJM Interconnection, the Southwest Power Pool and PJM Interconnection

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Posted By : Yogender Pancholi on Tue, 07 Jul 2020
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