ForeFront Power, a leading developer, advisor, and asset manager for commercial and industrial-scale solar energy and storage projects, has sold partial equity interests in Project Ridgeback, a 131MW distributed solar and solar-plus-storage portfolio. The buyer is leading climate solutions investor Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong”) (NYSE: HASI).
CohnReznick Capital served as financial advisor to ForeFront Power on the transaction.
“Distributed generation boosts grid resiliency and energy independence, crucial attributes in the face of increased climate events,” said Britta von Oesen, Partner & Managing Director, CohnReznick Capital. “We are pleased to facilitate this partnership between ForeFront Power and Hannon Armstrong to continue to drive the acceleration of DG solar throughout the U.S.”
For the full press release, please click here.
About ForeFront Power
ForeFront Power is a leading North American developer of solar and energy storage solutions for commercial, industrial, public sector and community solar customers. The ForeFront Power team has 15 years of experience working together to develop more than 1,300 behind-the-meter and community solar and storage projects, totaling more than 1 gigawatt-DC of renewable electricity. Headquartered in San Francisco, with offices in New York City and Mexico City, the company offers business, government, education and community solar customers in the U.S. and Mexico a broad array of development, advisory and asset management services. ForeFront Power is a wholly owned subsidiary of Mitsui & Co. Ltd., a global energy infrastructure and investment leader with a robust balance sheet and an “A” credit rating from Standard & Poor’s.
About Hannon Armstrong
Hannon Armstrong (NYSE: HASI) is the first U.S. public company solely dedicated to investments in climate solutions, providing capital to assets developed by leading companies in energy efficiency, renewable energy, and other sustainable infrastructure markets. With more than $9 billion in managed assets, our core purpose is to make climate positive investments with superior risk-adjusted returns.