ForeFront Power, Hannon Armstrong co-sponsor 131-MW solar, storage portfolio


ForeFront Power partnered with Hannon Armstrong Sustainable Infrastructure Capital, a leading investor in climate solutions, to create an equity investment platform for the shared ownership of a 131 MW portfolio of distributed solar and solar-plus-storage projects. CohnReznick Capital served as financial advisor to ForeFront Power on the transaction.

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The projects in the portfolio are located in 10 states: California, Colorado, Illinois, Iowa, Massachusetts, Michigan, New York, Oregon, Texas, and Virginia. Many of the projects are already completed and energized, while the remainder are in development and scheduled for energization in 2022.

ForeFront Power will continue to work on customer relationships across the entire portfolio and provide customers and co-sponsor with energy asset management services.

“This equity partnership is another indication of strong market momentum for distributed solar generation in the U.S.,” said Bryan Eckstein, ForeFront Power’s Vice President, Project Finance & Business Development. “Partnering with Hannon Armstrong accelerates ForeFront Power’s development pipeline by providing an additional source of capital for our climate change solutions that deliver customer savings.”

“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.”

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