{"id":3928,"date":"2013-04-10T18:13:01","date_gmt":"2013-04-10T18:13:01","guid":{"rendered":"http:\/\/blogs.edf.org\/energyexchange\/?p=3928"},"modified":"2013-04-10T18:13:01","modified_gmt":"2013-04-10T18:13:01","slug":"hannon-armstrong-raises-capital-for-clean-energy-finance","status":"publish","type":"post","link":"https:\/\/blogs.edf.org\/energyexchange\/2013\/04\/10\/hannon-armstrong-raises-capital-for-clean-energy-finance\/","title":{"rendered":"Hannon Armstrong Raises Capital For Clean Energy Finance"},"content":{"rendered":"

\"\"<\/a>Late last week, I had the chance to peruse Hannon Armstrong\u2019s SEC filing<\/a> for their upcoming Initial Public Offering (IPO), which is expected to start trading next week on April 18th<\/sup>.\u00a0 The company is in the business of financing energy efficiency and other clean energy projects, and hopes to raise as much as $245 million.<\/p>\n

Since 2000, Hannon Armstrong has provided or arranged over $3.9 billion of debt and equity financing deals for around 450 sustainable infrastructure projects.\u00a0 To date, most of these assets have been sold to other investors.\u00a0 Out of the $3.9 billion in financing deals they have arranged, Hannon Armstrong currently holds less than $200 million of these obligations on its balance sheet.\u00a0 The company plans to use the IPO proceeds to increase its investments, and has already identified $110 million of financing opportunities that can be closed within 45 days of the IPO.\u00a0 Additionally, the firm has secured $400 million of credit capacity from Bank of America to finance projects.<\/p>\n

Our understanding is that the majority of the company\u2019s projects are energy efficiency retrofits for the federal government or municipal properties, universities, schools or hospitals \u2013 often referred to collectively as the MUSH market.\u00a0 These properties tend to be attractive to lenders because the owners generally have high credit quality and the buildings are not generally mortgaged.\u00a0<\/p>\n

In their filing, Hannon Armstrong also discussed plans to do more financing deals for private sector customers.\u00a0 Historically, this has been difficult to do as most private sector properties have large mortgages, and energy efficiency financings have not been attractive to lenders from a credit perspective.\u00a0 An On-Bill Repayment<\/a> (OBR) program can solve this dilemma by attaching the repayment to a property\u2019s utility bill, as the obligation will survive a change in ownership, including a foreclosure.\u00a0 As OBR programs roll out in various states across the country, I expect that we will see increases in financing for energy efficiency projects in the commercial building sector.<\/p>\n

I am excited that we continue to see innovative methods to finance energy efficiency projects and wish continued success for Hannon Armstrong and its competitors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Late last week, I had the chance to peruse Hannon Armstrong\u2019s SEC filing for their upcoming Initial Public Offering (IPO), which is expected to start trading next week on April 18th.\u00a0 The company is in the business of financing energy efficiency and other clean energy projects, and hopes to raise as much as $245 million. …<\/p>\n","protected":false},"author":6407,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[254,55217],"tags":[],"coauthors":[],"class_list":["post-3928","post","type-post","status-publish","format-standard","hentry","category-energy-efficiency","category-on-bill-repayment-2"],"acf":[],"yoast_head":"\nHannon Armstrong Raises Capital For Clean Energy Finance - Energy Exchange<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogs.edf.org\/energyexchange\/2013\/04\/10\/hannon-armstrong-raises-capital-for-clean-energy-finance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hannon Armstrong Raises Capital For Clean Energy Finance - Energy Exchange\" \/>\n<meta property=\"og:description\" content=\"Late last week, I had the chance to peruse Hannon Armstrong\u2019s SEC filing for their upcoming Initial Public Offering (IPO), which is expected to start trading next week on April 18th.\u00a0 The company is in the business of financing energy efficiency and other clean energy projects, and hopes to raise as much as $245 million. ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blogs.edf.org\/energyexchange\/2013\/04\/10\/hannon-armstrong-raises-capital-for-clean-energy-finance\/\" \/>\n<meta property=\"og:site_name\" content=\"Energy Exchange\" \/>\n<meta property=\"article:published_time\" content=\"2013-04-10T18:13:01+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/blogs.edf.org\/energyexchange\/wp-content\/blogs.dir\/38\/files\/2013\/04\/Brad_Copithorne1-199x300.jpg\" \/>\n<meta name=\"author\" content=\"Brad Copithorne\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Brad Copithorne\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/blogs.edf.org\/energyexchange\/2013\/04\/10\/hannon-armstrong-raises-capital-for-clean-energy-finance\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/blogs.edf.org\/energyexchange\/2013\/04\/10\/hannon-armstrong-raises-capital-for-clean-energy-finance\/\"},\"author\":{\"name\":\"Brad Copithorne\",\"@id\":\"https:\/\/blogs.edf.org\/energyexchange\/#\/schema\/person\/b54b55529547d9cf8664944294453b3b\"},\"headline\":\"Hannon Armstrong Raises Capital For Clean Energy Finance\",\"datePublished\":\"2013-04-10T18:13:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/blogs.edf.org\/energyexchange\/2013\/04\/10\/hannon-armstrong-raises-capital-for-clean-energy-finance\/\"},\"wordCount\":352,\"commentCount\":1,\"image\":{\"@id\":\"https:\/\/blogs.edf.org\/energyexchange\/2013\/04\/10\/hannon-armstrong-raises-capital-for-clean-energy-finance\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/blogs.edf.org\/energyexchange\/wp-content\/blogs.dir\/38\/files\/2013\/04\/Brad_Copithorne1-199x300.jpg\",\"articleSection\":[\"Energy Efficiency\",\"On-bill repayment\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/blogs.edf.org\/energyexchange\/2013\/04\/10\/hannon-armstrong-raises-capital-for-clean-energy-finance\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blogs.edf.org\/energyexchange\/2013\/04\/10\/hannon-armstrong-raises-capital-for-clean-energy-finance\/\",\"url\":\"https:\/\/blogs.edf.org\/energyexchange\/2013\/04\/10\/hannon-armstrong-raises-capital-for-clean-energy-finance\/\",\"name\":\"Hannon Armstrong Raises Capital For Clean Energy Finance - 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