HA Sustainable Infrastructure Capital, Inc. and Sunrun Inc. announced the closing of a joint venture to finance distributed energy assets. The agreement closed in December 2025. HASI will invest $500 million over an 18-month period into the newly formed entity. The partnership intends to finance 300 MW of solar and energy storage capacity. This capacity represents more than 40,000 home power plants located across the country.
The transaction utilizes a structured equity investment. The investment monetizes a portion of the customer cash flows from the underlying projects. Sunrun retains a long-term ownership position in the assets. The arrangement provides Sunrun flexibility in structuring senior project debt.
The structure aims to deliver a cost of capital for the company. Sunrun will account for the partnership as a consolidated entity on its financial statements.
Sunrun provides home battery storage, solar, and home-to-grid power plants. The company uses a subscription model for its energy systems. Its systems provide dispatchable power to the grid.
HASI manages more than $15 billion in assets. Its portfolio includes utility-scale solar, storage, wind, and energy efficiency. The two companies established their business relationship in 2018.
The financing structure is for residential storage and solar assets. The joint venture supports the development of home-based energy systems to address power demand and grid reliability.
Sunrun acts as the owner and operator of the residential energy assets within the portfolio. This partnership follows Sunrun’s strategy to utilize diverse capital providers to finance growth.
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SunRun can thank the republican party for tipping the scales to their corporate side. Big Beautiful Bill forces all small independent contractors to work for mega corps like SunRun and forces consumers to buy from SunRun and their ilk because SunRun and large corporations are allowed to utilize the ITC when all others are not.
Most UnAmerican legislation I have ever seen. Congrats SunRun, your political donations are paying off, at the rest of our expense of course.