- Press Releases
June 8 (Renewables Now) - ForeFront Power, a San Francisco-based distributed solar and storage developer, on Wednesday unveiled an equity partnership with climate solutions investor Hannon Armstrong Sustainable Infrastructure Capital Inc (NYSE:HASI) for a 131-MW portfolio of multiple projects across 10 states in the US.
Hannon Armstrong is providing co-sponsor equity financing for the portfolio, which includes solar and solar-plus-storage projects in California, Colorado, Illinois, Iowa, Massachusetts, Michigan, New York, Oregon, Texas and Virginia, some in operation and some due to come online this year.
ForeFront Power, a subsidiary of Japan’s Mitsui & Co Ltd (TYO:8031), focuses on commercial and industrial solar and storage projects. According to its vice president Bryan Eckstein, the deal is a sign of strong market momentum for distributed solar generation in the US and will accelerate the company’s development pipeline by unleashing additional capital.
Hannon Armstrong managing director Manny Haile-Mariam said that the portfolio of behind-the-meter solar projects diversifies the firm’s investment in the distributed generation market.