Investment firm KKR, HASI launches $2 billion venture for sustainable infrastructure projects

Investment firm KKR and Hannon Armstrong Sustainable Infrastructure Capital (HASI) have launched a new venture called CarbonCount Holdings 1 LLC (CCH1) to invest up to $2 billion in sustainable infrastructure projects to combat climate change. 

Each company has committed up to $1 billion to this initiative. HASI will source and manage investments focusing on clean energy assets like renewable natural gas, transport projects, and other sustainable initiatives aligned with HASI’s existing strategy.

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Jeffrey A. Lipson, President and Chief Executive Officer of HASI, said, “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.”

“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,” Lipson added.

HASI will use its CarbonCount scoring tool to measure the emissions avoided by CCH1’s investments. 

CarbonCount, developed by Hannon Armstrong in 2013, assesses US-based renewable energy, energy efficiency, and climate resilience projects to determine how effectively invested capital reduces annual carbon dioxide equivalent (CO2e) emissions. 

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HASI relies on CarbonCount to monitor and report the impact of its investments. KKR will finance its investment in the new partnership through its core infrastructure strategy. 

The firm has invested over $15 billion in renewable energy and climate-related projects through its infrastructure platform. 

BloombergNEF ranks KKR as the 10th-largest owner of operating and under-construction solar assets in the United States.