Investment firms HA Sustainable Infrastructure Capital (HASI) and KKR are committing an additional $500m (€425.5m) each to CarbonCount Holdings 1 (CCH1), their joint US co-investment vehicle for clean energy assets.
HASI and KKR established CCH1 in May 2024, initially agreeing to invest $1bn each into the partnership over an 18-month period, to co-invest in US clean energy assets.
In June this year, CCH1 expanded its investment capacity through the issuance of $592m of 20-year fixed-rate senior unsecured notes and extended the initial investment period through November 2026.
Following the latest capital injection, the parties expect that CCH1’s capital commitments, combined with existing leverage targets, will bring the total investment capacity to nearly $5bn.
CCH1’s investment period has been extended to the earlier of the end of 2027 or when all commitments have been utilised, the companies said.
Marc Pangburn, HASI chief revenue and strategy officer, said: “CCH1 enables us to efficiently deploy capital into sustainable infrastructure projects that support the energy transition and address the country’s rising power demand.
“Alongside KKR, we are pleased to further scale CCH1 to deliver long-term value for our clients and stakeholders.”
Cecilio Velasco, managing director, KKR, said: “Expanding our commitment to CCH1 reflects the strong momentum we are seeing across the strategic partnership and our conviction in the opportunity set ahead.
“Together with HASI, we look forward to delivering long-term, flexible capital to high-quality sustainable infrastructure projects across the US.”
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