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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.
Ozop Energy Solutions has received an initial order for a microgrid generator system aimed at creating a first-of-its-kind near Net Zero Microgrid building. Located in Hanover, Maryland, this microgrid utilizes a combination of a 700 kWh Eos Energy battery, a 350 kW gas generator, and a 65 kW solar PV system, promising over $4 million in savings over 20 years. The project, costing $3.7 million, is funded through a collaboration with Counterpointe Sustainable Real Estate and includes federal tax credits. Ozop plans to expand its role in distributed generation solutions.
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI) will release its first quarter 2021 results on May 4, 2021, after market close. A conference call will follow at 5:00 p.m. ET, accessible by phone and online. The company is a pioneer in climate solutions, managing over $7 billion in assets, focusing on energy efficiency and renewable energy investments. Hannon Armstrong aims to achieve climate-positive investments with superior risk-adjusted returns. For further information, visit their official website.
Hannon Armstrong (NYSE: HASI) reported a GAAP EPS of $1.10 for 2020, down from $1.24 in 2019. However, Distributable EPS increased to $1.55, marking an 11% growth year-on-year. The portfolio grew by 38% to $2.9 billion, with total revenues rising by 32% or $45 million. They announced a dividend increase to $0.35 per share for Q1 2021 and projected a 7% to 10% annual growth in distributable earnings through 2023. A $50 million sustainability-linked credit facility was established, and a $1 million social dividend was declared.
Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASI) has appointed Clarence D. "Clay" Armbrister and Nancy C. Floyd to its Board of Directors, effective March 1, 2021. This expansion brings the Board to nine members, with eight being independent. Mr. Armbrister, president of Johnson C. Smith University, contributes significant experience in education and finance, enhancing Hannon Armstrong's growth strategy. Ms. Floyd, a clean energy pioneer and managing director of Nth Power, adds expertise in renewable energy and venture capital, aiding the company's navigation of innovative climate technologies.
Hannon Armstrong Sustainable Infrastructure Capital, a leader in climate solutions, released the estimated Federal income tax treatment of its 2020 distributions amounting to $1.355 per share. The report details distributions classified as return of capital. Significant dates include record date December 28, 2020, and payment date January 8, 2021. Shareholders should consult their tax advisors regarding the tax implications of these distributions. Hannon Armstrong manages over $6 billion in assets, focusing on energy efficiency and renewable energy investments.
Hannon Armstrong Sustainable Infrastructure Capital (HASI) will release its fourth quarter and full year 2020 results post-market on February 18, 2021. The earnings conference call is scheduled for 5:00 p.m. ET and will be accessible via phone or webcast. The company, dedicated to climate solutions, manages over $6 billion in assets as of September 30, 2020, focusing on energy efficiency and renewable energy investments. More information is available on the company's Investor Relations website.
Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASI) announced the promotion of six key executives effective immediately, including Jeffrey A. Lipson as COO and Susan D. Nickey as Chief Client Officer. These changes aim to bolster Hannon Armstrong's leadership and operational capabilities, aligning with its climate-positive investment strategy. The transition also includes J. Brendan Herron moving to a strategic advisory role after two decades with the company. Hannon Armstrong manages over $6 billion in assets, focusing on sustainable infrastructure investments.
Hannon Armstrong (NYSE: HASI) announced a preferred equity investment in a 1.6 GW renewable energy portfolio developed by Clearway Energy Group. This includes 874 MW of wind and 192 MW of solar along with storage projects across California, Texas, Hawaii, and West Virginia. The investment, reaching financial close on December 21, 2020, totals approximately $663 million, with $200 million funded to date. The portfolio's cash flows are secured by contracts with a diverse group of investment-grade offtakers, and it is expected to avoid 703,000 metric tons of CO2e emissions annually.
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