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CHAR is a joint venture between two companies with complementary strengths and a shared vision to expand environmentally responsible energy generation using reliable renewable resources in the U.S. CHAR was formed in 2006 specifically to develop energy generation projects from robust renewable resources. “CHAR” stands for “Catalyst Hannon Armstrong Renewables” and the activities of its owners are described below.
Catalyst Renewables is an energy development and operations company based in Dallas, Texas, with broad experience in the acquisition and development of geothermal and biomass energy generation facilities. Catalyst is an owner and the operator of a 20 MW Lyonsdale biomass power plant in Lyons Falls, New York and is the largest biomass fuel supply owner in New York State. The company has previously invested in geothermal development projects in the western U.S. Currently, Catalyst has several biomass and biofuels projects in active development in New York State, in addition to its co-development of geothermal opportunities in the Salton Sea field.
Hannon Armstrong is a financial services firm established in 1981 that finances contractors and project developers selling energy and other infrastructure-based services to industry and government. The company is a leading financier of energy savings performance contracts and other infrastructure improvement projects with the Federal government. In the private sector, Hannon Armstrong efficiently aggregates and finances solar energy projects for small developers and is extending this practice into other renewable energy technologies. Through its merchant arm, HA Development Partners, Hannon Armstrong leverages the successful energy project development and finance experience of its principals to capitalize on attractive renewable energy project development opportunities, such as its collaboration with Catalyst Renewables to develop the Hudson Ranch projects within CHAR.
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