With the IPO, Hannon Armstrong Sustainable Infrastructure Capital Inc. is looking to raise $100 million, first as a real estate investment trust and then to float on the New York Stock Exchange. With the proceeds, according to the filing, the company plans to retire notes and debt repayment.
The company was involved in the development of the Hudson Ranch I geothermal power plant in California with EnergySource, Mighty River Power (previously via GeoGlobal Energy) and Fuji Electric (for the Hudson Ranch II project) as shareholders in the construction phase of the project. Hannon Armstrong acted as lead arranger on private placement, which was sold to life insurance companies and used to refinance project debt tied to the John L. Featherstone plant. The company is currently involved in financing phase II of the plant adding another 49 MWe to the existing capacity.
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