KKR, HASI to Invest $2B in “Climate Positive” Infra Projects
KKR, an alternative asset and private equity investor, and Hannon Armstrong Sustainable Infrastructure Capital (HASI), a climate solutions and sustainable infrastructure investment firm, announced the formation of CarbonCount Holdings 1 LLC (CCH1), a new venture aimed at investing up to $2 billion ($1 billion each) in “climate positive” sustainable infrastructure projects over the next 18 months.
HASI will procure investments and manage CCH1. Investments will align with HASI’s current strategy, which focuses on renewable natural gas and transport projects.
At close, CCH1 will be seeded with approximately 10% of the up to $2 billion of committed capital.
“CCH1 represents a significant milestone in our objective to migrate to a more capital light model and reduce reliance on public equity markets for growth,” said Marc Pangburn, CFO of HASI. “This transaction further increases the resilient, non-cyclical nature of our business.”
With over 15 years of infrastructure investing experience, KKR has invested more than $15 billion in renewable energy and climate-related projects through its infrastructure platform alone. KKR will fund the investment with HASI through its core infrastructure strategy.
The firm has made several climate-focused and sector-decarbonization moves, including the establishment of a global climate strategy team in its infrastructure unit in August 2023, which the firm described as an expansion of its focus on climate investing, and has recently announced several large-scale energy transition infrastructure-related investments.
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