HASI
- Company typePublic
- Founded1981
- HeadquartersAnnapolis, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
HASI firmographics
Firmographics- Name
- HASI
- Legal name
- Hannon Armstrong Sustainable Infrastructure Capital, Inc.
- Website
- https://hannonarmstrong.com
- Company type
- Public
- Founded year
- 1981
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Ownership category
- akta.pro rank
HASI industry classification
Industry- Product category
- Sustainable Infrastructure Investment
- NAICS
- Other Financial Investment Activities (5239), Portfolio Management and Investment Advice (523940), Other Financial Vehicles (525990)
- SIC
- Finance Services (6199), Investment Advice (6282)
- akta.pro primary industry
- Renewable Energy Infrastructure (FSAAAKAG)
- akta.pro secondary industries
- Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD), Infrastructure & Project Finance Private Debt (FSANADAH), Climate Finance Funds & Green Investment Facilities (BPADACAH)
Keywords
Where HASI is headquartered
LocationHeadquarters
- HQ city
- Annapolis
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
HASI business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Investment Returns and Interest Income: HASI generates returns through investments in sustainable infrastructure assets, including interest income from debt financing provided to renewable energy projects, dividends from equity investments, and capital gains from asset dispositions. The company targets stable, long-term cash flows from its investment portfolio.
- Green Notes Issuance: HASI raises capital through green bond issuances including junior subordinated notes and senior unsecured notes, using proceeds to fund sustainable infrastructure projects and repay existing debt.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
HASI product offering
Product offeringCore offering
HASI is a sustainable infrastructure investment firm that deploys flexible capital — including senior debt, structured equity, mezzanine financing, joint ventures, and green note issuances — into renewable energy and climate-positive infrastructure projects across the United States. Capital is channeled into Behind-the-Meter (distributed solar, storage, energy efficiency), Grid-Connected (utility-scale solar, wind, battery storage), and Fuels, Transport & Nature (renewable natural gas, clean transportation, ecological restoration) projects. The firm also operates a proprietary CarbonCount framework that measures CO2e impact per dollar invested.
Product overview
HA Sustainable Infrastructure Capital (HASI) is a sustainable infrastructure investment firm — not a traditional product company — that provides flexible capital solutions to advance the energy transition. Its offerings consist of green debt instruments (green senior unsecured notes and junior subordinated notes issued in registered and private offerings), co-investment vehicles (CarbonCount Holdings 1 with KKR), and joint ventures for distributed energy and renewable fuels financing (Sunrun JV, Neogenyx Fuels). It also offers a proprietary sustainability measurement framework called CarbonCount that quantifies CO2e avoided per dollar invested. Capital is deployed across three markets: Behind-the-Meter (distributed solar and storage), Grid-Connected (utility-scale solar, wind, and battery storage), and Fuels, Transport & Nature (RNG, clean transportation, ecological restoration). The company operates primarily as a capital provider structured as a registered investment company (RIC) listed on the NYSE under the ticker HASI.
Differentiator
Problem solved
Functional benefit
Products and services
- CarbonCount A proprietary sustainability measurement methodology and scoring framework that quantifies the amount of carbon dioxide equivalent (CO2e) avoided per dollar of investment in sustainable infrastructure assets. Used by HASI to evaluate, report, and communicate the climate impact of its portfolio across Behind-the-Meter, Grid-Connected, and Fuels, Transport & Nature investments.
- Behind-the-Meter Infrastructure Financing Debt, equity, and structured financing solutions for distributed energy assets including on-site and near-site solar, battery storage, and energy-efficiency projects serving residential and commercial customers across the United States.
- Grid-Connected Infrastructure Financing Debt, equity, and structured financing solutions for utility-scale clean energy projects across the United States, including solar farms, onshore wind parks, and grid-scale battery energy storage systems.
- Fuels, Transport & Nature Infrastructure Financing Debt, equity, and structured financing for sustainable infrastructure assets beyond electricity, including renewable natural gas (RNG) projects, clean transportation fleets, and ecological restoration projects.
- CarbonCount Holdings 1 (CCH1) Co-Investment Vehicle
Quantifiable outcome
- Approximately 10 million metric tons of CO2e avoided annually from investments
- +2 more outcomes
Companies that use HASI
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
HASI technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
HASI partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered major and core.
- ØrstedmajorLand financing deals for three operational solar projects totaling approximately 677 MW across Arizona, Texas, and Alabama. The projects (Eleven Mile Solar Center, Sparta Solar Farm, Muscle Shoals Solar plant) are equally owned by Ørsted and Energy Capital Partners.
- AmerescocoreJoint venture Neogenyx Fuels formed as a spinoff of Ameresco's renewable fuels segment. HASI committed $400 million at an implied valuation of $1.8 billion, with Ameresco retaining 70% stake. The venture aims to accelerate growth of advanced biofuels, expanding Ameresco's existing biogas portfolio of 26 facilities to 4-6 projects per year.
- Sunruncore$500 million joint venture to finance distributed energy assets supporting over 40,000 home power plants with more than 300 megawatts of capacity. The partnership was expanded alongside HASI's $1.825 billion revolving credit facility.
- Dimension Energymajor$284 million financing package with $284 million structured equity from HASI to support 122 MWdc community solar portfolio across seven states, powering over 17,000 households.
- Pivot EnergymajorStructured equity investment from HASI alongside $450 million debt warehouse facility led by First Citizens Bank with ATLAS SP Partners support for 300 MW distributed generation solar projects.
Scale indicators16 records
Recent moves7 records
Expansion highlights4 records
HASI competitors and assessment
Company assessmentDirect peers
- Brookfield Renewable Partners: Owns and operates one of the world's largest publicly traded renewable power platforms (hydro, wind, solar, storage). Directly comparable to HASI as a renewable infrastructure capital provider with utility-scale exposure and yield-oriented equity.
- NextEra Energy Partners: Yieldco backed by NextEra Energy that acquires contracted renewable energy assets. Comparable to HASI's grid-connected segment with similar long-duration, contracted cash flow profile and project-finance orientation.
- Clearway Energy: Owns and operates contracted renewable and conventional generation and storage in the US. Closely matches HASI's mix of utility-scale solar, wind, and storage investments with project-level debt and tax equity structures.
- Atlantica Sustainable Infrastructure: Owns and operates a diversified portfolio of sustainable infrastructure including renewables, efficient natural gas, water, and transmission. Comparable to HASI across the Fuels/Transport/Nature and Grid-Connected segments with contracted cash flows.
- Generate Capital: Privately held sustainable infrastructure financier operating across distributed generation, storage, transportation, and resource efficiency. Directly comparable to HASI's Behind-the-Meter and broader sustainable infrastructure origination.
Broad incumbents
- KKR Global Infrastructure: Mega-cap infrastructure platform with dedicated climate strategy and the CarbonCount co-invest partner. Competes with HASI for large renewable deals and can underwrite far larger checks independently.
- Blackstone Infrastructure: Large-scale infrastructure platform investing across digital, energy transition, and transport. Has dedicated climate strategies that overlap with HASI's grid-scale and energy transition focus.
- Brookfield Asset Management (Infrastructure): Manages the world's largest infrastructure capital pool, including significant renewable energy. A broad incumbent that competes with HASI at the upper end of deal size while offering a wider asset mix.
- Macquarie Asset Management (Green Investment Group): Pioneer in green infrastructure investment with global origination capability. Directly comparable to HASI's climate finance thesis at much larger scale.
Regional players
- Infratil / Renewables Infrastructure Group: NZ/UK-based infrastructure investor with major renewable energy and decarbonization platforms. Comparable business model and asset class, but operating primarily outside HASI's US footprint.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
HASI social profiles
Digital presenceHASI financial estimates
Financial estimateRevenue estimate
Valuation estimate
HASI leadership team
Management profileNumber of profiles
Profiles4 records
HASI subsidiaries and ownership
Company hierarchySubsidiaries1 record
HASI funding detail
Funding detailFunding overview
Funding rounds8 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
HASI M&A and investment
M&A and investmentM&A
Investments10 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about HASI
What does HASI do?
HASI is a sustainable infrastructure investment firm that deploys flexible capital — including senior debt, structured equity, mezzanine financing, joint ventures, and green note issuances — into renewable energy and climate-positive infrastructure projects across the United States. Capital is channeled into Behind-the-Meter (distributed solar, storage, energy efficiency), Grid-Connected (utility-scale solar, wind, battery storage), and Fuels, Transport & Nature (renewable natural gas, clean transportation, ecological restoration) projects. The firm also operates a proprietary CarbonCount framework that measures CO2e impact per dollar invested.
Is HASI a public or private company?
HASI is a public company. It is classified as public and is currently operating.
When was HASI founded?
HASI was founded in 1981. It employs 101 to 250 people.
Where is HASI based?
HASI is headquartered in Annapolis, United States, in the North America region.
How does HASI make money?
Two revenue lines are on record. Investment Returns and Interest Income is the primary driver. The others are green Notes Issuance.
Who are HASI's main competitors?
Direct peers on record are Brookfield Renewable Partners, NextEra Energy Partners, Clearway Energy, Atlantica Sustainable Infrastructure and Generate Capital. Broad incumbents are KKR Global Infrastructure, Blackstone Infrastructure, Brookfield Asset Management (Infrastructure) and Macquarie Asset Management (Green Investment Group). Infratil / Renewables Infrastructure Group is listed as a regional player.
Does HASI have an API?
No public API is recorded for HASI.
What industry is HASI in?
HASI's product category is Sustainable Infrastructure Investment. Its primary akta.pro industry code is FSAAAKAG, Renewable Energy Infrastructure, with a secondary code of EUAMAAAD, Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds). Its NAICS code is 5239 and its SIC code is 6199.