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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.
Hannon Armstrong Sustainable Infrastructure Capital reported a Q3 2022 GAAP EPS of $0.38, improving from $(0.04) in 2021. The company achieved a 20% year-over-year growth in Distributable EPS, reaching $0.49. Net Investment Income grew to $11.4 million, up from $5.3 million. Investments totaling $273 million were closed during the quarter. A dividend of $0.375 per share was declared. The company anticipates a 10% to 13% CAGR in Distributable Earnings Per Share through 2024.
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI) will announce its third quarter 2022 results after market close on November 3, 2022. Following the results, a conference call will take place at 5:00 p.m. Eastern Time, accessible via phone and as a webcast on the Company's website. Hannon Armstrong focuses on investments in climate solutions, managing over $9 billion in assets, aiming for superior risk-adjusted returns. For further information, visit hannonarmstrong.com.
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI) announced the appointment of Lizabeth “Beth” Ardisana to its Board of Directors effective October 10, 2022. This inclusion enhances the board to nine members, with eight being independent. Ardisana brings her extensive experience from industries like automotive and renewable fuels, providing new insights into growth opportunities in climate solutions. She has a strong background in management roles at Ford Motor Company and leads ASG Renaissance LLC. The company continues to emphasize its commitment to climate-positive investments.
Hannon Armstrong (NYSE: HASI) announced its Q2 2022 financial results, reporting a GAAP EPS of $(0.21) compared to $0.20 in Q2 2021. Distributable EPS increased by 5% YOY to $0.60. Net Investment Income surged to $11.1 million, with Distributable Net Investment Income rising 44% to $47.9 million. The company closed $340 million in investments this quarter. It declared a $0.375 dividend and expects Distributable EPS to grow at a compound annual rate of 10%-13% through 2024. The portfolio grew to $3.9 billion, reflecting solid growth in sustainable infrastructure investments.
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI) will announce its second quarter 2022 results on August 4, 2022, after market close. A conference call will follow at 5:00 p.m. ET, accessible via phone or audio webcast. Hannon Armstrong, dedicated to climate solutions, manages $9 billion in assets and focuses on energy efficiency and renewable energy investments. The company emphasizes its commitment to climate-positive investments with superior risk-adjusted returns.
Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASI) issued a statement refuting allegations made by Muddy Waters Capital in a report dated July 12, 2022. The Company asserted that its financial statements are accurate, compliant with GAAP and SEC regulations, and that its non-GAAP measures, including Distributable Earnings, provide a true representation of cash flow. Hannon Armstrong emphasized that it has adequate cash flow to pay dividends and that its accounting methods, including HLBV, are standard practice. The Company seeks to maintain transparency and defend its reputation in the market.
ForeFront Power has partnered with Hannon Armstrong (NYSE: HASI) to create an equity investment platform for a 131 MW portfolio of distributed solar and solar-plus-storage projects across 10 states, including California and Texas. This collaboration aims to provide additional capital for climate solutions, enhancing ForeFront's development pipeline while managing customer relationships and energy assets. The projects are already energized or scheduled for completion in 2022, indicating strong market momentum for distributed solar generation.
Hannon Armstrong reported Q1 2022 financial results, showing $0.51 GAAP EPS, down from $0.61 in Q1 2021. However, Distributable EPS rose to $0.52, a 21% YOY increase, with Net Investment Income at $10.1 million. The company closed $331 million in investments, a 76% increase YOY, and portfolio growth reached $3.7 billion, up 28%. A $0.375 per share dividend was declared, with expectations for 10% to 13% annual growth in Distributable EPS through 2024.
Hannon Armstrong (NYSE: HASI) will release its first quarter 2022 results on May 3, 2022, after market close, followed by a conference call at 5:00 p.m. ET. Investors can join the call by dialing 1-877-407-0890 or via the audio webcast on their website. With over $8 billion in managed assets, Hannon Armstrong focuses on climate solutions, investing in energy efficiency and renewable energy sectors. A replay of the call will be available afterward on the company's website.
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