HASI, KKR establish $2B strategic partnership over sustainability projects

Hannon Armstrong (HASI) and KKR (KKR) announced an agreement to establish CarbonCount Holdings 1 LLC (“CCH1”) to invest up to a combined $2 billion in climate positive projects across the United States. Per the agreement, signed May 4, 2024, HASI and KKR have each made an initial capital commitment of up to $1 billion to CCH1, to invest up to an aggregate of $2 billion in clean energy assets over the next 18 months. HASI will source the investments for and manage CCH1, remain the interface with its clients, and measure the avoided emissions of all investments in CCH1 using its proprietary CarbonCount(R) scoring tool. These investments will be consistent with HASI’s existing investment strategy which is focused on behind-the-meter, grid-connected, renewable natural gas and transport projects. At close, CCH1 will be seeded with assets representing approximately 10% of the up to $2 billion total committed amounts. “Our strategic partnership with KKR perfectly aligns with our Climate Clients Assets strategy, enabling us to capitalize on our ambitious pipeline of opportunities and scale our business,” said Jeffrey A. Lipson, President and Chief Executive Officer of HASI. “We are excited to collaborate with the KKR team, who share our commitment to accelerating the energy transition and whose interest in the relationship serves as a testament to HASI’s history of success.”