Ha Sustainable Infrastructure Capital, Inc.
investors.hasi.comWhat Do They Do?
Invests in renewable energy, energy storage, and efficiency projects for clean-energy developers, utilities, and energy service companies.
10-K for FY2025, filed Feb 13, 2026We are internally managed by an executive team that has extensive relevant industry knowledge and experience, and oversees a team of over…View ↗
Behind the Meter Grid-Connected Fuels, Transport, and Nature (BTM) (GC) (FTN) •Residential solar and storage •Utility-scale solar…View ↗
Behind-the-Meter (“BTM”): distributed renewable energy projects which reduce energy cost and/or usage and increase resiliency through…View ↗
How Do They Make Money?
Earns recurring interest and equity income from investments and management fees for overseeing investment vehicles and trusts. It also receives income from retained interests and gains on transactions that transfer assets to institutional investors.
10-K for FY2025, filed Feb 13, 2026We completed approximately $4.3 billion and $2.3 billion of transactions during 2025 and 2024, respectively, and from 2020 through 2025 we…View ↗
The returns we generate on our investments are generally derived from five primary sources: (1) interest income, (2) income from equity…View ↗
We are an investor in sustainable infrastructure assets advancing the energy transition. With more than $16 billion in managed assets, our…View ↗
$400.5M
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10-K for FY2025, filed Feb 13, 2026
$400.5M ↗
Who Are Their Customers?
For the projects HASI finances, counterparties include building owners or occupants, utilities or electricity users, and fuel or industrial companies.
10-K for FY2025, filed Feb 13, 2026Behind-the-Meter (“BTM”): distributed renewable energy projects which reduce energy cost and/or usage and increase resiliency through…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 46 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 13, 2026
10-K for FY2025, filed Feb 13, 2026
$184.5MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 7, 2026
$131.8MView ↗
- ▲ +32%
- vs $99.8M in Q2 FY2025
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Aug 6, 2026
Raises adjusted earnings-per-share guidance
Raised 2028 adjusted EPS guidance to $3.55 to $3.65 from $3.50 to $3.60.
Sources
8-K, filed Aug 6, 2026
GAAP EPS of $0.92, compared with $0.74 in Q2 2025, and Adjusted EPS of $0.75, compared to $0.60 in Q2 2025. GAAP-based Net Investment…View ↗
Growing. Revenue grew 88% in 4 years, from $213.2M in FY2021 to $400.5M in FY2025, about 17% a year.
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