HASI

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

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

• Sustainable infrastructure investing
• Climate transition financing
• Renewable energy capital
• Green bond issuance
• Infrastructure debt equity

Headquarters

HQ city

Annapolis

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. 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.
2. 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

Core 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

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered major and core.

• ØrstedmajorStrategic or Co-development Partner · 28 May 2026Land 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.
• AmerescocoreStrategic or Co-development Partner · 19 May 2026Joint 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.
• SunruncoreStrategic or Co-development Partner · 29 January 2026$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 EnergymajorStrategic or Co-development Partner · 11 December 2024$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 EnergymajorStrategic or Co-development Partner · 21 November 2024Structured 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

Direct 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

• LinkedInlinkedin.com/company/hannon-armstrong
• Xx.com/HannonArmstrong
• Facebookfacebook.com/hannon-armstrong-178691008826551

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds8 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments10 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HASI