HOUSTON and ANNAPOLIS, Md., Dec. 20, 2021 — ENGIE North America Inc. (“ENGIE”), a leader in developing and managing renewable energy projects, and Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong”) (NYSE: HASI), a leading investor in climate solutions, today announced operational completion of their 2.3-gigawatt (GW) portfolio of wind and utility-scale solar projects.
ENGIE completes 2.3 GW U.S. renewables portfolio jointly owned with Hannon Armstrong. Thirteen combined wind and solar projects are estimated to be producing enough renewable energy on the grid to provide power to the equivalent of over 500,000 homes in the U.S.
The final renewable project, a 50 MW solar farm in Virginia, was commissioned and transferred into the portfolio partnership previously announced by ENGIE and Hannon Armstrong. In all, there are 13 renewable projects online – including 1.8 GW of onshore wind and 0.5 GW of utility-scale solar photovoltaic (PV) projects. They are estimated to be producing enough renewable energy on the grid to provide power to the equivalent of over 500,000 homes in the U.S.
The nine wind and four solar projects, which were constructed from late 2019 through the fall of 2021, supported more than 3,500 mostly local jobs during the construction phase. ENGIE not only developed the complex portfolio of projects, but they will also be the operator – meaning long-term relationships with local communities over the coming decades. The projects will provide long-term property tax revenues in 15 counties across five states supporting services and growth in these largely rural American communities.
“We are delighted to commission our final project in this complex portfolio. That was an ambitious project and the team delivered– both in ENGIE and Hannon Armstrong,” said Dave Carroll, Chief Renewables Officer, ENGIE North America. “The energy transition requires innovative, large-scale actions like this to accelerate our pace to meet the climate challenges. Our successful delivery of this world-class portfolio of renewable projects demonstrates what can be done when you have the right team and the right partners.”
ENGIE is not only focused on increasing its renewable platform in the U.S., but also on reducing the carbon intensity of other industries such as universities, cities and the transportation sector. As such, each of the 13 projects has off-take agreements with customers, where the renewable energy generated is supporting delivery of commitments to a lower carbon future.
The innovative portfolio equity partnership with Hannon Armstrong reflects the importance of developing large-scale financial relationships to support renewable growth.
“Achieving the final commissioning of this landmark multi-gigawatt renewable portfolio was only made possible through the incredible collaboration and best-in-class execution of our valued partners at ENGIE,” said Hannon Armstrong Chief Client Officer Susan Nickey. “We share a common mission to accelerate the rapid adoption of climate solutions, and we believe this portfolio of projects is a model example of what can and must be done at scale to meet our country’s ambitious decarbonization goals with clean and reliable energy.”
ENGIE’s scale and Hannon Armstrong’s leadership have demonstrated what can be achieved. This 2.3 GW portfolio is part of ENGIE North Americas’ more than 3 GW of renewable generation in the U.S. today with a pipeline of 10 GW of growth projects.