Hannon Armstrong to invest US$663 million in Clearway renewables projects

December 23, 2020
Facebook
Twitter
LinkedIn
Reddit
Email
Image: Hannon Armstrong

 Green finance group Hannon Armstrong is to invest US$663 million in seven onshore wind and utility-scale solar managed by US developer and operator Clearway Group.

The portfolio covers 1.6GW energy generation capacity across three wind, one solar and three solar-plus-storage projects in California, Hawaii, Texas and West Virginia, and covers 395MW of energy storage.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Two projects have already been completed, including the 192 MW utility-scale Rosamund Central solar project located in Kern County, California, which Clearway closed debt financing on in May this year, and the 419 MW Mesquite Star wind project in Fisher and Nolan County, Texas. The remaining projects are either under construction or due to break ground within the next two years.

Hannon Armstrong, which finalised the investment on Monday (21 December), now holds a preferred equity interest in the Clearway subsidiaries managing the projects. The company has invested US$200 million in Clearway’s renewable power projects so far and expects to spend a total of US$663 million from 2021 to 2022.

Jeffery Eckel, Hannon Armstrong’s chairman and chief executive, said the assets offer “increased scale and diversity” to the investor’s portfolio.

Clearway is one of the largest renewables developers in the US, with approximately 9GW of capacity in its development pipeline.

Clearway Energy Group chief executive Craig Cornelis said the “geographically diverse” project portfolio will allow both companies to hold ground in current hotspots for the US renewables market. The Solar Industries Association anticipates that more than 4GW of solar capacity could be installed in Texas by 2025. Clearway claims to operate more than 1.1GW of renewable energy assets in Kern County alone.

Meanwhile, California has been tipped to add more than 25GW of renewables by 2030, according to the California Public Utilities Commission, including 11GW of utility-scale solar.

Cornelius said that the projects will be “pivotal in Clearway's continued ability to provide clean energy at the scale our country demands while helping to deliver on investors' growing interest in climate change solutions”.

16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

October 29, 2025
French firms TotalEnergies and EDF, with local partners, secured contracts for 400MW and 600MW solar projects in Saudi Arabia, supporting Vision 2030 renewable goals.
October 28, 2025
GreenYellow plans to invest US$116 million in Poland over the next three years to expand its installed capacity and customer base.
October 28, 2025
GoldenPeaks Capital secures EUR114 million (US$132 million) financing package for two solar PV Portfolio in Poland.
October 28, 2025
Chinese solar inverter producer GoodWe has launched a new “low noise, low weight” string inverter for the European corporate & industrial solar market.
October 28, 2025
Fotowatio Renewable Ventures (FRV) Australia has announced the development of a 210MWdc solar project in New Zealand's Rangitikei District.
October 27, 2025
Chinese engineering firm Shanghai Electric has signed an engineering, procurement, and construction (EPC) contract with independent power producer (IPP) Econergy to build a 342MW solar PV plant in Romania.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany