- Published: 02 July 2020 02 July 2020
Engie announces the signing of an agreement to sell 49% equity interest in a 2.3 GW US renewables portfolio to Hannon Armstrong. Engie will retain a controlling share in the portfolio and continue to manage the assets.
On commissioning, this 2.3GW portfolio consists of 1.8GW of onshore wind and 0.5GW of solar photovoltaic (PV) projects. Under the agreement, Hannon Armstrong will take immediate ownership of 49% of 663MW of commissioned wind projects. The remaining 1.6GW 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 USA, including the Electric Reliability Council of Texas (ERCOT), Midcontinent Independent System Operator (MISO), PJM Interconnection (PJM), the Southwest Power Pool (SPP) and PJM Interconnection (PJM).