HA SUSTAINABLE INFRA CAP INC - HASI STOCK NEWS

HASI (NYSE: HASI), a leading sustainable infrastructure investor, has announced the appointment of two new board members effective April 15, 2025. Laura A. Schulte and Barry E. Welch will join the board, bringing the total to 12 members, with 10 being independent.

Schulte, with over 30 years of financial services leadership, will serve on the Audit and Compensation Committees. She currently chairs Transportation Alliance Bank's board and has previous executive experience at Wells Fargo and Norwest

Welch, bringing three decades of power and infrastructure industry expertise, will serve on the Audit and Finance and Risk Committees. He currently chairs Onward Energy's board and previously served as CEO of Atlantic Power from 2004 to 2014.

HA Sustainable Infrastructure Capital (NYSE: HASI) announced four executive leadership appointments effective March 1, 2025. Marc T. Pangburn, current EVP and CFO, will become Chief Revenue & Strategy Officer, leveraging his experience in overseeing the KKR partnership and investment grade debt achievement. Charles W. Melko will be promoted to EVP, CFO and Treasurer from his current role as SVP, Chief Accounting Officer and Treasurer.

Nathaniel J. Rose, current EVP and Chief Investment Officer, will transition to Senior Managing Director, Investments, continuing his contribution to the company's growth in managed assets to approximately $14 billion. Michelle E. Whicher will be elevated to Chief Accounting Officer from her current position as SVP and Controller.

HASI reported strong financial results for Q4 and full year 2024, with GAAP EPS reaching $1.62 compared to $1.42 in 2023, and Adjusted EPS of $2.45, up 10% year-over-year. The company closed $2.3 billion in investments during 2024, growing Managed Assets by 11% to $13.7 billion and Portfolio by 6% to $6.6 billion.

New portfolio asset yields exceeded 10.5% in 2024, up from 9% in 2023. The company extended its guidance for 8-10% Adjusted EPS Growth to 2027 and increased its quarterly dividend to $0.42 per share. Total revenue reached $384 million for 2024, a 20% increase from 2023. The company maintains a strong balance sheet with a debt-to-equity ratio of 1.8, within its target range of 1.5 to 2.0.

HASI (NYSE: HASI) has released its fourth quarter and full year 2024 results, showing strong financial performance with Adjusted EPS of $2.45 in 2024, up 10% year-over-year. The company closed a record $2.3 billion of investments in 2024, growing Managed Assets by 11% to $13.7 billion and its Portfolio by 6% to $6.6 billion.

New portfolio asset yields exceeded 10.5% in 2024, up from more than 9% in 2023. HASI has extended its guidance for 8% to 10% Adjusted EPS Growth to 2027 and increased its dividend to $0.42 per share for Q1 2025, with plans to reduce the payout ratio to 55%-60% by 2027.

The company's sustainability impact remains strong, with transactions closed in 2024 expected to avoid 872 thousand metric tons of carbon emissions annually. HASI's well-diversified portfolio includes approximately $3.1 billion in behind-the-meter assets, $2.6 billion in grid-connected assets, and $0.9 billion in fuels, transport, and nature assets.

HA Sustainable Infrastructure Capital (NYSE: HASI), a leading investor in climate solutions, has scheduled its fourth quarter and full year 2024 earnings release for Thursday, February 13, 2025, after market close. The company will host a conference call at 5:00 p.m. Eastern Time to discuss the results.

Investors can access the conference call by dialing 1-877-407-0890 (Toll-Free) or +1-201-389-0918 (toll). The call will also be available as an audio webcast with slides on HASI's website. A replay will be accessible as an on-demand webcast on the company's website following the event.

HASI (NYSE: HASI) has established a structured equity capital partnership with IGS Solar to finance residential solar and energy storage systems in the United States. The initial equity investment will finance a 71 MW portfolio deployment in 2025, primarily consisting of 25-year homeowner lease contracts across 11 states, with focus on New York, New Jersey, Pennsylvania, and Florida.

IGS Solar, established in 2017, has deployed over $1 billion in residential solar lease and PPA assets, serving approximately 30,000 homeowners across 10 states. Through this new partnership, IGS Solar aims to expand its reach to up to 60,000 customers over the next three years. The collaboration positions IGS Solar for growth as a major residential solar financing provider, offering consumer financial products and asset management services through various installer partners.

HASI announced pricing of a $300 million private offering of 6.375% green senior unsecured notes due 2034. The notes will form part of the company's existing notes class and will be guaranteed by multiple HASI subsidiaries. The settlement is expected on December 12, 2024.

The company estimates net proceeds of approximately $297 million after deducting costs. These funds will temporarily repay portions of its unsecured credit facility and commercial paper program borrowings. HASI plans to use cash equal to the net proceeds to acquire, invest in, or refinance eligible green projects, including those with disbursements made twelve months before and up to two years after the issue date.

Pivot Energy has secured major financing arrangements totaling over $450 million to support the construction of 300 Megawatts of distributed generation solar projects across the United States. The financing includes a debt warehouse facility led by First Citizens Bank and ATLAS SP Partners, along with a structured equity investment from HASI in a new project joint venture. The portfolio comprises 96 projects across nine states, primarily focusing on community solar installations, with the remainder being commercial Power Purchase Agreements. The projects are expected to be operational within two years, representing Pivot's largest financing agreement to date.

HASI reported Q3 2024 results with mixed performance. Managed assets increased 14% year-over-year to $13.1 billion, while the portfolio grew 15% to $6.3 billion. The company closed $396 million in transactions during Q3, bringing YTD total to $1.2 billion. New portfolio investments yielded approximately 10.5%, with total portfolio yield rising to 8.1%. However, GAAP EPS declined to $(0.17) from $0.20 year ago, while Adjusted EPS decreased to $0.52 from $0.62. The company maintained its guidance for 8-10% compound annual growth in adjusted EPS from 2024 to 2026.