HASI and global investment firm KKR announced a joint $1 billion capital commitment to the CarbonCount Holdings 1 (CCH1) co‑investment vehicle, adding $500 million from each partner on December 15, 2025. The move increases CCH1’s total investment capacity to nearly $5 billion when existing leverage targets are included, up from the original $2 billion structure that was launched in May 2024.
The expanded capacity gives HASI the ability to deploy capital into climate‑positive infrastructure projects without issuing new equity. With the new commitment, the vehicle’s debt‑to‑equity ratio remains below 2.0x, and the weighted‑average cost of debt stays near 5.7%, allowing the company to maintain a 400‑plus basis‑point spread between new asset yields and its borrowing cost.
HASI’s focus on the Fuels, Transport, and Nature segment will benefit most from the additional capital. In the first half of 2025, revenue from these segments grew 12% YoY, driven by strong demand for renewable natural gas and electric‑vehicle charging infrastructure. The new funding will accelerate deployment in these high‑yielding areas while keeping the company’s capital structure healthy.
Marc Pangburn, HASI’s Chief Revenue and Strategy Officer, said the partnership “enables us to efficiently deploy capital into sustainable infrastructure projects that support the energy transition and address the country’s rising power demand.” KKR’s Cecilio Velasco added that the expanded commitment “reflects the strong momentum we are seeing across the partnership and our conviction in the opportunity set ahead.”
The capital infusion supports HASI’s reaffirmed guidance for 8‑10% compound annual EPS growth through 2027. By expanding CCH1’s capacity, the company can scale its portfolio, capture larger projects, and reinforce its capital‑efficient growth model, positioning it to capitalize on the accelerating demand for climate‑positive infrastructure.
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