Forefront Power, Hannon Armstrong partner on 131 MW distributed solar portfolio


Forefront Power announced it partnered with Hannon Armstrong Sustainable Infrastructure Capital to create an equity investment platform for the shared ownership of a 131 MW portfolio of distributed solar and solar-plus-storage projects.

The portfolio spans 10 states (California, Colorado, Illinois, Iowa, Massachusetts, Michigan, New York, Oregon, Texas, and Virginia), and includes a significant portion of projects already under commercial operations. The entire portfolio is expected to be active by the end of the year.

Forefront Power said it will provide energy asset management services for customers of the projects, and for Hannon Armstrong. The portfolio acquisition now brings the company’s total capacity of owned and developed solar projects to more than 800 MW of capacity across more than 1,000 projects.

“We are pleased to be an equity capital partner with ForeFront Power and support the continued expansion of their C&I solar business across the U.S.,” said Manny Haile-Mariam, Hannon Armstrong’s managing director, Structured Investments Team lead. “This high-quality portfolio of behind-the-meter solar projects further diversifies our investment in the distributed generation market, which is critical for reducing carbon emissions and strengthening energy security and resilience at the same time.”

The deal with Forefront Power also marks Hannon Armstrong’s first major co-ownership agreement of 2022. At the end of Dec. 2021, Engie North America announced the completion of a 2.3 GW portfolio of wind and utility-scale solar projects that the company jointly owns alongside Hannon Armstrong.

The entire portfolio is comprised of 13 renewable projects in 15 counties spanning five states, including 1.8 GW of onshore wind and 0.5 GW of utility-scale solar projects. The portfolio is estimated to produce enough renewable energy on the grid to provide power to the equivalent of over 500,000 homes. Each project was constructed between the end of 2019 and the second half of 2021.

Earlier that month, Hannon Armstrong saw another of its notable assets enter service: a 9.2 MW community solar project located on a commercial warehouse northwest of Baltimore, Maryland. Developed by Summit Ridge Energy, the project is among the largest rooftop community solar installations ever developed.

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