Invenergy and HASI Expand Partnership Across 2.7 GW U.S. Clean Energy Portfolio
Invenergy, North America’s largest privately held developer, owner and operator of independent power infrastructure, and HA Sustainable Infrastructure Capital, Inc. (HASI), a leading investor in sustainable infrastructure assets, have expanded their long-standing relationship through a strategic equity partnership supporting a 2.7-gigawatt portfolio of clean energy projects across the United States.
The transaction brings together a diverse group of utility-scale solar, solar-plus-battery storage and wind projects developed by Invenergy. The portfolio spans multiple U.S. electricity markets and is designed to support the continued deployment of large-scale power infrastructure backed by long-term contractual arrangements with investment-grade energy purchasers.
Under the partnership, Invenergy will maintain control and majority ownership of the portfolio and continue to oversee the projects’ day-to-day operations. HASI will provide long-term capital to support the projects as they reach commercial operation, creating a structure that allows Invenergy to continue investing in its broader development pipeline while maintaining operational leadership across the assets.
The agreement represents another step in the companies’ ongoing relationship and reflects the growing role of institutional capital in financing renewable energy and energy storage infrastructure. As electricity demand increases across the country, developers and investors are increasingly focused on projects capable of delivering reliable, contracted power to utilities, corporations and public-sector customers.
The portfolio consists of 10 projects with a combined capacity of approximately 2.7 GW. The assets are located across six major U.S. power markets and seven states: Arizona, New Mexico, Texas, Arkansas, Indiana, Ohio and New York. The geographic diversity of the portfolio provides exposure to multiple electricity markets while bringing together different forms of clean generation and storage technology.
More than 850 MW of the portfolio is already operating. The remaining projects are expected to enter commercial operation by the first quarter of 2027. HASI will fund each project as it reaches commercial operation, providing capital in line with the assets’ progression into the operating phase.
A key feature of the portfolio is its contracted revenue profile. All of the projects are supported by long-term agreements with investment-grade offtakers. These counterparties include corporate customers, utilities and public-sector entities, providing contractual frameworks for the sale of electricity and, where applicable, associated energy services.
The combination of long-term agreements and established operating assets is intended to provide a foundation for sustained investment in the portfolio. It also reflects the increasing demand among institutional investors for infrastructure assets that can provide exposure to the expansion of renewable power generation and energy storage while benefiting from contracted cash flows.
For Invenergy, the transaction provides an opportunity to recycle capital from a portion of its project portfolio while continuing to retain majority ownership and operational control. Capital recycling is an important component of large-scale infrastructure development because it enables developers to redeploy capital from operating or near-operating projects into new developments.
The company has continued to expand its presence across renewable generation and other forms of power infrastructure as electricity demand grows in the United States. The addition of solar-plus-storage projects to the portfolio also highlights the increasing importance of battery storage in supporting renewable generation and meeting changing grid requirements.
Solar projects remain a major component of the U.S. power development pipeline, while battery storage is increasingly being paired with renewable generation to improve flexibility and help manage differences between generation and electricity demand. Wind generation also remains an important part of the broader clean energy mix, giving the portfolio exposure to multiple generation technologies.
The seven-state footprint further demonstrates the scale of Invenergy’s development and operating platform. Projects in Arizona, New Mexico and Texas provide exposure to major Western and Texas power markets, while assets in Arkansas, Indiana, Ohio and New York extend the portfolio into additional regions of the U.S. electricity system.
The projects’ contracted structures are also intended to support the needs of a broad customer base. Corporate purchasers have increasingly sought long-term clean energy arrangements to support their electricity req
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