KKR and HASI Expand CarbonCount Platform with $508 Million Senior Note Issuance

HA Sustainable Infrastructure Capital (HASI) and KKR have expanded the investment capacity of their co-investment platform CarbonCount Holdings 1 (CCH1) through a $508 million senior unsecured note issuance, bringing total platform investment capacity to nearly $5 billion. The proceeds will be used to acquire or invest in new and existing sustainable infrastructure projects across the United States.

Launched in 2024, CCH1 provides long-term capital for sustainable infrastructure projects including behind-the-meter, grid-connected, renewable natural gas, and transportation infrastructure. The platform was initially established with $1 billion commitments from each investor, extended by another $500 million each in December 2025. The latest note issuance, the second by CCH1, follows an inaugural $592 million issuance in June 2025. HASI and KKR said the latest transaction reflects the quality and diversity of the underlying asset base.

The CCH1 structure demonstrates how institutional investors are using specialised co-investment platforms to deploy large pools of capital efficiently into the growing sustainable infrastructure market. By issuing senior notes in a private offering, CCH1 can attract additional investors beyond its founding sponsors while maintaining a focused investment mandate aligned with HASI's existing strategy. The platform's growing scale provides greater flexibility to pursue larger and more complex transactions across renewable energy and related infrastructure.

With nearly $5 billion in total investment capacity, CCH1 is positioned as one of the larger dedicated sustainable infrastructure platforms in the United States. Growing investment capacity is particularly significant at a time when U.S. clean energy infrastructure faces both unprecedented demand from data centre growth and policy uncertainty from changes in federal incentive programmes. For institutional investors globally — including Indian pension funds and insurance companies exploring infrastructure allocations — the CCH1 model of co-sponsored, note-funded sustainable infrastructure offers a template for scaled, credit-rated sustainable asset exposure.

Key figure — $508 million senior unsecured note issuance expanding CCH1 capacity to nearly $5 billion