HASI makes its first water infrastructure bet with Burnham RNG deal
What's the deal? HA Sustainable Infrastructure Capital (HASIDealroom has a profile for this one. Try Dealroom →) has closed a structured equity investment in the Pasco Resource Recovery Center, a wastewater treatment and reuse facility developed, owned, and operated by Burnham RNGDealroom has a profile for this one. Try Dealroom → in Washington State. The July 2026 project deal marks HASI's first transaction in water infrastructure.
What does the facility do? The Pasco Center treats and reuses wastewater for seven local industrial food-processing plants, using anaerobic digestion to break down organic matter. It can recycle more than one billion gallons of water annually for agricultural irrigation, and produces renewable natural gas (RNG) and nutrient-rich soil amendments as byproducts.
Why now? Built as a partnership between Burnham and the City of Pasco, the facility replaced the city's original Process Water Reuse Facility in 2025, expanding capacity and cutting its environmental footprint. Its output now irrigates 1,900 acres of city-owned farmland.
What's the endgame? The investment is underpinned by a 30-year wastewater treatment agreement with the City of Pasco, giving HASI the long-term, contracted cash flows it favours. "We look forward to investing further into water infrastructure and broadening our impact," said Annmarie Reynolds, its co-chief investment officer.
For Burnham, the deal is a platform play. "HASI's investment positions us to bring similar solutions to other public utilities facing water and wastewater challenges," said Chris Tynan, Burnham's chief executive officer. He called it "a strong first step with HASI" and said he expects more opportunities to partner as the platform grows.
The signal: HASI's move into water infrastructure signals investor appetite for assets that combine environmental impact with steady, contracted returns. Projects like Pasco turn a municipal liability — wastewater — into reusable water, renewable gas, and soil amendments, a model both companies see scaling to other public utilities.
Read more: Wall Street Online
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