ForeFront Power, a developer and asset manager of commercial and industrial solar and battery storage projects, and investor HASI have made a follow-on investment in distributed solar and solar-plus-storage projects in California.
The deal builds on an initial co-sponsored equity investment in a stand-alone US distributed solar portfolio that HASI made with ForeFront Power last year.
The portfolio includes 48.5 MW of DC commercial and industrial ground-mounted, carport and rooftop solar, including several projects combined with battery storage for a total of 3.7 MW. About 36 MW of the distributed assets are mechanically ready and were financed at financial close, while the remaining projects will be financed after completion until the end of the year.
“We are excited to expand our relationship with ForeFront Power with this latest investment in their diversified C&I solar portfolio,” said Susan Nickey, HASI’s Chief Customer Officer. “The exceptional team at ForeFront Power has proven their ability to deliver and execute high-quality solar and storage projects that meet pro forma expectations, and we look forward to continuing their growth.”