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Hannon Armstrong Sustainable Infrastructure Capital Inc. (NYSE: HASI) is a prominent financial services firm focused on providing debt and equity financing in the energy efficiency and renewable energy markets. Based in Annapolis, Maryland, the company tailors its investments to support projects that generate long-term, predictable, and recurring cash flows. Hannon Armstrong leverages its extensive industry expertise, having completed its first renewable energy financing over 25 years ago and its first energy efficiency financing more than 15 years ago.
Core Business and Focus:
HASI primarily targets two main areas:
- Energy Efficiency Projects: These projects aim to reduce energy usage and costs in buildings or facilities through the installation or improvement of components such as HVAC systems, lighting, energy controls, roofs, windows, building shells, and combined heat and power systems.
- Renewable Energy Projects: These projects focus on deploying clean energy sources like solar and wind to generate power. Hannon Armstrong provides financing solutions that facilitate the transition to more sustainable energy production methods.
Target Market:
The company provides preferred or senior-level capital to established sponsors and high-credit-quality obligors, including U.S. federal, state, and local governments, Global 1000 corporations, and private developers.
Recent Achievements and Projects:
Hannon Armstrong has been actively involved in significant financing initiatives. For instance, the company recently secured over $300 million in project financing commitments from funds managed by Apollo (NYSE: APO) and ATLAS SP Partners for SunPower's residential solar and storage lease programs. This transaction supports SunPower’s mission to expand access to clean energy solutions across the United States.
Financial Condition:
As a Real Estate Investment Trust (REIT), elected and qualified for federal income-tax purposes since December 31, 2013, Hannon Armstrong has demonstrated robust financial health and stability. The company continues to attract significant investment, enabling it to support a variety of clean energy projects that align with its sustainability goals.
Partnerships:
Hannon Armstrong has established strategic partnerships with key players in the energy sector, such as SunPower Corp. This collaboration underscores its commitment to facilitating the adoption of renewable energy and enhancing energy efficiency nationwide.
Conclusion:
Hannon Armstrong Sustainable Infrastructure Capital Inc. stands as a leader in financing environmentally sustainable energy projects. With a solid foundation in industry knowledge and a focus on providing tailored financial solutions, HASI continues to drive the transition toward a more sustainable energy future.
SunPower (NASDAQ:SPWR) announced securing over $450 million in financing commitments aimed at enhancing its residential solar and storage loan program. The funding comes from HASI (NYSE:HASI) and Crédit Agricole CIB, allowing SunPower to offer loans to customers with terms up to 25 years. This initiative reinforces SunPower's commitment to providing attractive financing options and demonstrates the resilience of consumer credit markets. The financing will allow SunPower to effectively manage growing customer demand, with a reported 99% growth in their loan business in 2022. SunPower plans to participate in the U.S. Treasury's new bonus incentive program for solar lease financing, further supporting energy transition in qualified communities.
Bioenergy Devco has received a $30 million investment from HASI to expand its anaerobic digestion facilities across the U.S. This funding will enhance organic waste recycling and reduce greenhouse gas emissions. The Maryland Bioenergy Center in Jessup will serve as the financing's backbone, promoting sustainable energy resources. Bioenergy Devco is a leader in the construction and operation of anaerobic digestion systems and has developed over 250 facilities globally, highlighting its commitment to a circular economy and climate change mitigation. HASI's investment emphasizes its role in the energy transition.
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI) has officially adopted the brand name 'HASI' alongside a new logo. The updated branding aims to simplify communication, reflecting the acronym that stakeholders already use. President and CEO Jeffrey A. Lipson emphasized the brand evolution coincides with the company's milestone of nearly a decade as a public entity. The legal name remains unchanged, and the company continues its commitment to 'Investing in Climate Solutions®.' With over $9 billion in managed assets, HASI operates as a key player in climate-positive investments, paving the way for energy transition initiatives.
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI) announced the appointment of Kimberly A. Reed and Jeffrey A. Lipson to its Board of Directors effective March 1, 2023. With this change, the Board now comprises 11 members, 9 being independent. Reed, a former chairman and CEO of the U.S. Export-Import Bank, will add valuable regulatory insight and financial expertise. Lipson, who previously served as COO and CFO, assumes the CEO role, marking a leadership transition for HASI, which manages over $9 billion in assets focused on climate solutions.
Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASI) will host an Investor Day on March 21 from 8:30 a.m. to 11:30 a.m. EDT in Annapolis, Maryland. Investors can access a live video webcast of the event, including presentation materials, via this link. The event aims to provide insights into HASI's climate solution investments. The company manages over $9 billion in assets, focusing on energy efficiency and renewable energy projects. A replay of the event will be available post-session.
The Board of Directors of Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASI) announced key executive changes as part of a leadership succession plan, effective March 1, 2023. Jeff Lipson, previously COO and CFO, will take over as President and CEO, succeeding Jeff Eckel, who becomes Executive Chair. Marc Pangburn will step up as CFO from his role as Co-Chief Investment Officer. This transition aims to leverage the experience of the new executives to seize growth opportunities in the climate solutions sector, where Hannon Armstrong manages over $9 billion in assets, focusing on investments in energy efficiency and renewable energy.
Hannon Armstrong Sustainable Infrastructure Capital reported its financial results for 2022, including a GAAP EPS of $0.47, down from $1.51 in 2021, and a Distributable EPS of $2.08, up from $1.88, representing an 11% year-on-year growth. The company's portfolio grew by 19% to $4.3 billion. It achieved a Net Investment Income of $45 million, compared to $11 million in 2021, and increased Distributable Net Investment Income by 34% to $180 million. Hannon Armstrong declared a dividend of $0.395 per share for Q1 2023, a 5.3% increase. Guidance indicates annual dividends are expected to grow by 5% to 8% through 2024.
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI) will release its Q4 and full year 2022 results after market close on February 16, 2023. A conference call is scheduled for 5:00 p.m. ET, accessible via phone or live audio webcast. This event marks a significant moment for investors as the company, the first U.S. public firm focused solely on climate investments, manages over $9 billion in assets. Hannon Armstrong aims to deliver climate positive investments with superior risk-adjusted returns. For more details, visit their website.
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI) announced the Federal income tax treatment for 2022 distributions totaling
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI) has announced the closing of two new investments in renewable energy assets developed by The AES Corporation (NYSE: AES). This includes a 1.3-GW portfolio comprising 17 solar projects and one wind project across six states. With a 49% equity interest in this portfolio, HASI aims to drive growth in renewable energy and battery storage. The investment aligns with both companies' commitment to sustainable energy. The assets have a remaining contract life of approximately 18 years, providing stable cash flows.
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