Hannon Armstrong buys solar land for USD 144m

Solar panels. Featured Image: Jackiso/Shutterstock.com

Feb 10 (Renewables Now) - US renewables investor Hannon Armstrong Sustainable Infrastructure Capital Inc (NYSE:HASI) has paid USD 144 million (EUR 135.4m) to buy land allocated for more than 690 MW of solar projects.

More specifically, Hannon Armstrong has acquired more than 4,000 acres (1,619 ha) of land that is leased under long-term deals to over 20 individual solar projects with investment grade off-takers, it said in a statement on Friday.

The company did not mention the exact locations of the projects.

Hannon Armstrong now has spent some USD 375 million on real estate and owns over 20,000 acres of land leased under long-term contracts to over 45 renewable energy projects. It also has the rights to payments from land leases for more than 50 additional projects.

(USD 1.0 = EUR 0.941)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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