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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.
The Hannon Armstrong Foundation (NYSE: HASI) has announced new multi-year partnerships with Groundswell, SEI, and Southface Institute to support community resilience, careers in sustainability, and energy efficiency upgrades. These partnerships aim to improve access to affordable clean energy and provide education opportunities in climate solutions, focusing on historically underserved communities. The initiatives include developing community resilience centers and expanding training programs for the climate workforce, fostering an equitable transition towards a sustainable future.
Hannon Armstrong Sustainable Infrastructure Capital has announced the pricing of a private offering of $200 million in 0.00% green exchangeable senior notes due 2025. The notes will be exchangeable for common stock at an initial exchange price of approximately $56.54 per share, representing a 32.50% premium over the last sale price. Proceeds from this offering will be used to support eligible green projects. The notes are offered only to qualified institutional buyers and are subject to regulatory conditions.
Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASI) has announced a private offering of $200 million in green exchangeable senior notes due 2025. The offering, subject to market conditions, is led by HAT Holdings I and II, with the intention to utilize proceeds for eligible green projects. The notes, which will yield returns based on their principal accretion, are exchangeable for common stock, providing flexibility for investors. An additional $30 million may be offered to initial purchasers.
Hannon Armstrong Sustainable Infrastructure Capital (HASI) reported robust financial results for 2021, highlighting a 21% increase in distributable EPS to $1.88 from $1.55 in 2020. The company expanded its portfolio by 24% to $3.6 billion and net investment income increased by 52% to $134 million. A 7% increase in Q1 2022 dividends to $0.375 per share was announced. The company also expects a compounded annual growth rate of 10% to 13% in distributable EPS through 2024. Positive ESG initiatives were emphasized, with an estimated 800,000 metric tons of carbon emissions avoided annually.
Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASI) reported a total distribution of $1.3900 per share for 2021. The distributions include ordinary income of $0.1950 and a return of capital of $1.1950. The distribution record dates were 12/28/2020, 4/5/2021, 7/2/2021, and 10/1/2021, with payment dates following shortly after. Notably, the January 2022 distribution will be classified as a 2022 distribution for tax purposes. Investors should consult tax advisors regarding their distributions.
Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASI) will release its fourth quarter and full year 2021 results on February 17, 2022, after market close. A conference call is scheduled for 5:00 p.m. ET, accessible via phone or audio webcast on the company's website. Hannon Armstrong, with over $8 billion in managed assets, focuses on climate solutions, providing capital for energy efficiency and renewable energy projects. The company aims to achieve superior risk-adjusted returns through climate-positive investments.
ENGIE North America and Hannon Armstrong have successfully completed their joint 2.3-GW renewable energy portfolio, including 1.8 GW of wind and 0.5 GW of solar projects. This initiative, which involved 13 projects across five states, is expected to power over 500,000 homes. The final project, a 50 MW solar farm in Virginia, marks the completion of construction that supported over 3,500 local jobs. This partnership highlights their commitment to decarbonization and aims to accelerate climate solutions through large-scale energy projects.
Hannon Armstrong Sustainable Infrastructure Capital reported a Q3 2021 GAAP EPS of $(0.04), down from $0.28 in Q3 2020, but a 14% increase in Distributable EPS to $0.41. Net Investment Income rose to $5.3 million from $3.9 million year-over-year. The company closed $1.1 billion in investments in 2021, including over $200 million in residential solar assets in Q3. A dividend of $0.35 per share was declared. The total portfolio grew 45% YOY to $3.2 billion.
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