American Wind Capital Company

Sale of Ground Rent & Lease Portfolio Underlying Renewable Energy Projects to:

Hannon Armstrong

American Wind Capital Company ("AWCC"), the market leader in monetizing long-term, contracted ground rent / ground lease agreements in high-quality solar and wind projects, was acquired by Hannon Armstrong Capital, LLC and its affiliate Hannon Armstrong Sustainable Infrastructure Capital, Inc., for $106,650,000.

Marathon Capital acted as exclusive financial advisor to AWCC.

At the time of the acquisition, AWCC owned leases on more than 40 projects, representing more than 1,000 MWs of solar and wind generating capacity located in 14 US states. These leases produce long-term, stable, contracted cash flows that are senior in priority. While monetizing wind lease payments has been occurring for some time, separating the underlying land from solar projects is a relatively new concept, and one that brings significant, accretive, benefit to the solar asset owner. Contemporaneously with the sale, Hannon Armstrong entered into a mutually exclusive agreement with AWCC Capital, which is made up of the AWCC management team, to continue to originate solar and wind related real estate transactions. AWCC has a significant pipeline of future transactions and anticipates strong future growth in association with its new ownership.

Marathon's Role

M&A - Sell Side

Client Countries


Counter Party Countries



May 2014