Hannon buys USD 107m in land, leases for solar, wind assets

(SeeNews) - May 28, 2014 - US infrastructure investor Hannon Armstrong Sustainable Infrastructure Capital Inc (NYSE:HASI) said today it had bought a USD-107-million (EUR 79m) portfolio of land leases related to solar and wind projects.

More specifically, the company has bought over 7,500 acres (3,035 hectares) of land leased to three solar schemes. It also acquired the payments from 11 additional land leases for wind projects with a total value of USD 27 million. Further, Hannon has purchased another portfolio of 46 smaller streams of payments from land leases on wind installations.

The transaction involves the acquisition of American Wind Capital Company LLC, excluding any liabilities or employees.

Hannon noted that these leases support renewable energy assets developed or owned by companies such as The Southern Company (NYSE:SO), NRG Yield Inc (NYSE:NYLD), First Solar Inc (NASDAQ:FSLR) and NextEra Energy Inc (NYSE:NEE).

Also today, Hannon said it had expanded its existing credit line by USD 200 million.

(USD 1.0 = EUR 0.735)

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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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