HASI on NYSE
HA Sustainable Infrastructure Capital, Inc.
HA Sustainable Infrastructure Capital, Inc. is an investor in sustainable infrastructure assets advancing the energy transition.2 It is headquartered in Annapolis, United States.2 Its shares trade on NYSE under the symbol HASI.2
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Last updated Oct 21, 2026.
Overview
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- TickerHASI on NYSE2
- IndustryInvestors, NEC2
- HeadquartersAnnapolis, United States2
- Incorporated inDE3
- Business addressOne Park Place, Suite 200, Annapolis, Md 214013
- Filer categoryLarge accelerated filer3
- Legal formCorporation2
- LEI254900ZZRL7MWL1X8E922
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 33826182
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HASI is an investor in sustainable infrastructure assets advancing the energy transition. Our investment strategy is focused on actively partnering with clients to deploy capital primarily in income-generating real assets that are supported by long-term recurring cash flows. This strategy has enabled us to generate attractive risk-adjusted returns and provide stockholders with diversified exposure to the energy transition.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Interest52¢$292.4M
- Income tax15¢$85.2M
- Profit33¢$184.5M
Out of $400.5M in revenue.6
Where each dollar of operating cash went, fiscal 2025
- Dividends paid100¢$209.8M
Out of $167.3M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.6
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Gain on sale of assets | $65.1M | $80.3M | $68.6M |
| Management fees and retained interest income | $33.6M | $26.1M | $19.3M |
| Origination fee and other income | $15.4M | $11.3M | $2.9M |
| Total revenue | $400.5M | $383.6M | $319.9M |
| Interest expense | $292.4M | $242.4M | $171.0M |
| Provision (benefit) for loss on receivables and retained interests in securitization trusts | $12.1M | $1.1M | $11.8M |
| Compensation and benefits | $92.5M | $81.3M | $64.3M |
| General and administrative | $30.7M | $32.9M | $31.3M |
| Total expenses | $427.7M | $357.6M | $278.5M |
| Income (loss) before equity method investments | -$27.2M | $25.9M | $41.4M |
| Income (loss) from equity method investments | $300.7M | $247.9M | $141.0M |
| Income (loss) before income taxes | $273.5M | $273.8M | $182.4M |
| Income tax (expense) benefit | -$85.2M | -$70.2M | -$31.6M |
| Net income (loss) | $188.2M | $203.6M | $150.8M |
| Net income (loss) attributable to non-controlling interest holders | $3.7M | $3.6M | $1.9M |
| Net income (loss) attributable to controlling stockholders | $184.5M | $200.0M | $148.8M |
| Basic earnings (loss) per common share (in usd per share) | $1.49 | $1.72 | $1.45 |
| Diluted earnings (loss) per common share (in usd per share) | $1.41 | $1.62 | $1.42 |
| Weighted average common shares outstandingbasic (in shares) | 123.0M shares | 115.5M shares | 101.8M shares |
| Weighted average common shares outstandingdiluted (in shares) | 138.2M shares | 130.5M shares | 109.5M shares |
| Interest and rental income | $286.4M | $265.9M | $229.0M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $110.2M | $129.8M | ||
| Equity method investments | $4.1B | $3.6B | ||
| Receivables held-for-sale | $113.9M | $75.6M | ||
| Real estate and available-for-sale debt securities | $76.3M | $9.8M | ||
| Retained interests in securitization trusts, net of allowance of $3 million and $3 million, respectively | $299.7M | $248.7M | ||
| Other assets | $191.8M | $108.2M | ||
| Total assets | $8.2B | $7.1B | ||
| Accounts payable, accrued expenses and other | $380.7M | $275.6M | ||
| Credit facilities | $46.2M | $1.0M | ||
| Commercial paper notes | $225.2M | $100.1M | ||
| Term loans payable | $386.4M | $408.0M | ||
| Senior notes | $3.5B | $3.1B | ||
| Junior subordinated notes | $497.6M | $0 | ||
| Convertible notes | $403.4M | $619.5M | ||
| Total Liabilities | $5.5B | $4.7B | ||
| Preferred stock, par value $0.01 per share, 50,000,000 shares authorized, no shares issued and outstanding | $0 | $0 | ||
| Common stock, par value $0.01 per share, 450,000,000 shares authorized, 127,644,496 and 118,960,353 shares issued and outstanding, respectively | $1.3M | $1.2M | ||
| Additional paid-in capital | $2.8B | $2.6B | ||
| Accumulated deficit | -$323.1M | -$297.5M | ||
| Accumulated other comprehensive income (loss) | $47.1M | $40.1M | ||
| Non-controlling interest | $83.0M | $68.3M | ||
| Total Stockholders Equity | $2.7B | $2.4B | $2.1B | $1.7B |
| Total Liabilities and Stockholders Equity | $8.2B | $7.1B | ||
| Allowance for loss on receivables | $62.0M | $50.0M | ||
| Outstanding balance of related party loans | $3.3B | $2.9B | ||
| Securitization assets allowance | $3.0M | $3.0M | ||
| Preferred stock, par value (in usd per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 50.0M shares | 50.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in usd per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 450.0M shares | 450.0M shares | ||
| Common stock, shares issued (in shares) | 127.6M shares | 119.0M shares | ||
| Common stock, shares outstanding (in shares) | 127.6M shares | 119.0M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $110.2M | $129.8M | ||
| Equity method investments | $4.1B | $3.6B | ||
| Receivables held-for-sale | $113.9M | $75.6M | ||
| Real estate and available-for-sale debt securities | $76.3M | $9.8M | ||
| Retained interests in securitization trusts, net of allowance of $3 million and $3 million, respectively | $299.7M | $248.7M | ||
| Other assets | $191.8M | $108.2M | ||
| Total assets | $8.2B | $7.1B | ||
| Accounts payable, accrued expenses and other | $380.7M | $275.6M | ||
| Credit facilities | $46.2M | $1.0M | ||
| Commercial paper notes | $225.2M | $100.1M | ||
| Term loans payable | $386.4M | $408.0M | ||
| Senior notes | $3.5B | $3.1B | ||
| Junior subordinated notes | $497.6M | $0 | ||
| Convertible notes | $403.4M | $619.5M | ||
| Total Liabilities | $5.5B | $4.7B | ||
| Preferred stock, par value $0.01 per share, 50,000,000 shares authorized, no shares issued and outstanding | $0 | $0 | ||
| Common stock, par value $0.01 per share, 450,000,000 shares authorized, 127,644,496 and 118,960,353 shares issued and outstanding, respectively | $1.3M | $1.2M | ||
| Additional paid-in capital | $2.8B | $2.6B | ||
| Accumulated deficit | -$323.1M | -$297.5M | ||
| Accumulated other comprehensive income (loss) | $47.1M | $40.1M | ||
| Non-controlling interest | $83.0M | $68.3M | ||
| Total Stockholders Equity | $2.7B | $2.4B | $2.1B | $1.7B |
| Total Liabilities and Stockholders Equity | $8.2B | $7.1B | ||
| Allowance for loss on receivables | $62.0M | $50.0M | ||
| Outstanding balance of related party loans | $3.3B | $2.9B | ||
| Securitization assets allowance | $3.0M | $3.0M | ||
| Preferred stock, par value (in usd per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized (in shares) | 50.0M shares | 50.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in usd per share) | $0.01 | $0.01 | ||
| Common stock, shares authorized (in shares) | 450.0M shares | 450.0M shares | ||
| Common stock, shares issued (in shares) | 127.6M shares | 119.0M shares | ||
| Common stock, shares outstanding (in shares) | 127.6M shares | 119.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | $188.2M | $203.6M | $150.8M |
| Provision for loss on receivables and retained interests in securitization trusts | $12.1M | $1.1M | $11.8M |
| Depreciation and amortization | $780.0K | $1.0M | $3.1M |
| Amortization of financing costs | $15.3M | $17.0M | $13.0M |
| Equity-based expenses | $29.9M | $25.6M | $19.8M |
| Equity method investments | -$81.9M | -$179.7M | -$108.0M |
| Non-cash gain on securitization | -$40.0M | -$70.7M | -$43.5M |
| (Gain) loss on sale of receivables and debt securities | $0 | $7.3M | $1.3M |
| Loss on debt extinguishment | $10.8M | $0 | $0 |
| Changes in receivables held-for-sale | -$23.8M | -$29.3M | $51.5M |
| Changes in accounts payable, accrued expenses, and other | $104.5M | $101.4M | $48.5M |
| Change in accrued interest on receivables and debt securities | -$68.5M | -$78.6M | -$44.1M |
| Cash received (paid) upon hedge settlement | $24.5M | $20.3M | $0 |
| Other | -$4.7M | -$13.2M | -$4.4M |
| Net cash provided by operating activities | $167.3M | $5.9M | $99.7M |
| Equity method investments | -$447.9M | -$396.6M | -$869.4M |
| Equity method investment distributions received | $59.4M | $39.1M | $30.1M |
| Proceeds from sales of equity method investments | $0 | $9.5M | $0 |
| Purchases of and investments in receivables ($177 million, $246 million, and $324 million to equity method investees, respectively) | -$1.0B | -$667.1M | -$1.3B |
| Proceeds from sales of receivables | $8.3M | $172.0M | $7.6M |
| Proceeds from sale of real estate | $0 | $115.8M | $0 |
| Purchases of debt securities and retained interests in securitization trusts | -$70.6M | -$10.5M | -$14.4M |
| Proceeds from sales of debt securities and retained interests in securitization trusts | $0 | $5.4M | $0 |
| Collateral provided to hedge counterparties | -$10.3M | -$27.1M | -$93.5M |
| Collateral received from hedge counterparties | $8.4M | $27.6M | $85.0M |
| Other | -$65.3M | $204.0K | $2.9M |
| Net cash provided by (used in) investing activities | -$855.8M | -$131.2M | -$2.0B |
| Proceeds from credit facilities | $1.2B | $1.3B | $1.2B |
| Principal payments on credit facilities | -$1.1B | -$1.7B | -$827.0M |
| Proceeds from (repayments of) commercial paper notes | $125.5M | $70.0M | $30.0M |
| Proceeds from issuance of term loan | $0 | $250.0M | $365.0M |
| Principal payments on term loan | -$23.6M | -$568.0M | -$16.5M |
| Proceeds from issuance of senior notes | $996.2M | $1.2B | $550.0M |
| Principal payments on convertible notes | -$200.0M | $0 | -$143.7M |
| Redemption of senior notes | -$700.0M | -$400.0M | $0 |
| Proceeds from issuances of junior subordinated notes | $500.0M | $0 | $0 |
| Proceeds from issuance of convertible notes | $0 | $0 | $402.5M |
| Purchase of capped calls related to the issuance of convertible notes | $0 | $0 | -$37.8M |
| Net proceeds of common stock issuances | $236.7M | $203.5M | $492.4M |
| Payments of dividends and distributions | -$209.8M | -$192.3M | -$159.8M |
| Redemption premium and fees paid | -$8.4M | $0 | $0 |
| Payment of financing costs | -$19.1M | -$30.3M | -$22.9M |
| Collateral provided to hedge counterparties | -$135.3M | -$151.3M | -$166.6M |
| Collateral received from hedge counterparties | $88.4M | $199.3M | $176.1M |
| Other | -$4.9M | -$1.5M | -$4.8M |
| Net cash provided by (used in) financing activities | $683.6M | $200.4M | $1.8B |
| Increase (decrease) in cash, cash equivalents, and restricted cash | -$4.9M | $75.1M | -$100.9M |
| Interest paid | $252.4M | $193.0M | $138.4M |
| Interest retained from securitization transactions | $41.1M | $43.3M | $35.5M |
| Equity method investments retained from securitization and deconsolidation transactions | $0 | $32.6M | $144.6M |
| Equity method investments retained from sale of assets to a co-investment structure | $0 | $115.2M | $0 |
| Deconsolidation of non-recourse debt | $0 | $51.2M | $257.7M |
| Deconsolidation of assets pledged for non-recourse debt | $0 | $51.8M | $374.6M |
| Assumption of deferred financing obligation | $50.9M | $32.9M | $0 |
| Removal of deferred financing obligation upon securitization | -$29.1M | $0 | $0 |
| Principal collections from receivables | $705.7M | $600.7M | $197.8M |
No quarter-by-quarter statement was filed.
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Corporate structure
HA Sustainable Infrastructure Capital, Inc. sits at the top of its group. 256 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of HA Sustainable Infrastructure Capital, Inc.
- Wellington Management Company Filed SCHEDULE 13G/A on HA Sustainable Infrastructure Capital, Inc., latest Aug 13, 2026 (7 filings since Feb 4, 2022)
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on HA Sustainable Infrastructure Capital, Inc., latest Apr 28, 2026
- VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on HA Sustainable Infrastructure Capital, Inc., latest Apr 28, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on HA Sustainable Infrastructure Capital, Inc., latest Mar 26, 2026 (5 filings since Feb 9, 2022)
- T. Rowe Price Investment Management, Inc. Filed SCHEDULE 13G on HA Sustainable Infrastructure Capital, Inc., latest Feb 17, 2026
- FMR LLC Filed SCHEDULE 13G/A on HA Sustainable Infrastructure Capital, Inc., latest Nov 5, 2025 (2 filings since May 12, 2025)
- BlackRock Filed SCHEDULE 13G/A on HA Sustainable Infrastructure Capital, Inc., latest Jul 18, 2025 (6 filings since Feb 3, 2022)
- HA Sustainable Infrastructure Capital, Inc. Annapolis, Maryland, United States
- Carboncount Holdings Manager LLC Subsidiary · Delaware, United States
- HA 7V Solar Ranch LLC Subsidiary · Delaware, United States
- HA AllStrong LLC Subsidiary · Delaware, United States
- HA Antelope DSR 3 LLC Subsidiary · Delaware, United States
- HA Athena Capital Holdings LLC Subsidiary · Delaware, United States
- HA Athos III Lender LLC Subsidiary · Delaware, United States
- HA Baldy Mesa Lender LLC Subsidiary · Delaware, United States
- HA Brazoria 2 LLC Subsidiary · Delaware, United States
- HA Brazoria West LLC Subsidiary · Delaware, United States
- HA Buckeye Holdings LLC Subsidiary · Delaware, United States
- HA C-PACE 2019-1 Issuer LLC Subsidiary · Delaware, United States
- HA C-PACE SAC LLC Subsidiary · Delaware, United States
- HA Chap Springs LLC Subsidiary · Delaware, United States
- HA Cielo Lender LLC Subsidiary · Delaware, United States
- HA Clear Fork Creek LLC Subsidiary · Delaware, United States
- HA Clover Creek LLC Subsidiary · Delaware, United States
- HA CLP Funding LLC Subsidiary · Delaware, United States
- HA Coy Hill Road LLC Subsidiary · Delaware, United States
- HA CS Equity Holdings LLC Subsidiary · Delaware, United States
- HA CS5 Equity LLC Subsidiary · Delaware, United States
- HA CS6 Equity LLC Subsidiary · Delaware, United States
- HA CS7 Equity LLC Subsidiary · Delaware, United States
- HA Daggett 2 Lender LLC Subsidiary · Delaware, United States
- HA Daggett Lender LLC Subsidiary · Delaware, United States
- HA Daybreak Holdings LLC Subsidiary · Delaware, United States
- and 230 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What HA Sustainable Infrastructure Capital, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Real estate and locations
| Item | Latest | A year before | Change |
|---|---|---|---|
| Real estate investments, net | $3.0M10 Dec 31, 2024 | $111.0M10 Dec 31, 2023 | −97.3% |
| Real estate accumulated depreciation | $010 Dec 31, 2024 | $8.0M10 Dec 31, 2023 | −100.0% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $110.2M6 Dec 31, 2025 | $129.8M6 Dec 31, 2024 | −15.1% |
| Debt securities available for sale | $6.8M10 Dec 31, 2024 | $7.2M10 Dec 31, 2023 | −4.8% |
| Stakes in other companies (equity method) | $4.1B6 Dec 31, 2025 | $3.6B6 Dec 31, 2024 | +13.9% |
Properties, in its own words
Our principal executive offices are located at One Park Place, Suite 200, Annapolis, Maryland 21401, with an additional office at 24 West 40th Street, Suite 900, New York, NY 10018. Our telephone number is (410) 571-9860.
Item 2 of the 10-K filed Feb 13, 2026.5
Leadership
Who has led HA Sustainable Infrastructure Capital, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
201520202025
- Chief executive officerJeffrey Lipson Mar 3, 2023 to now14
- Chief executive officerJeffrey Eckel Apr 17, 2013 to Nov 9, 202215
- ChairJeffrey Eckel Apr 17, 2013 to Sep 17, 202415
- PresidentJeffrey Eckel Apr 17, 2013 to Nov 9, 202215
- Chief financial officerCharles Melko Mar 3, 2025 to now16
- Chief financial officerMarc T. Pangburn Mar 3, 2023 to Nov 12, 202417
- Chief financial officerJeffrey Lipson Mar 1, 2019 to Nov 9, 202218
- Chief financial officerJ. Brendan Herron Apr 17, 2013 to Apr 6, 201819
- Chief operating officerNitya Gopalakrishnan Sep 11, 2025 to now20
- Chief operating officerNathaniel Rose Oct 1, 2015 to May 17, 201721
Board members and other officers (32)
- Co-Chief Investment OfficerAmanuel Haile-Mariam May 22, 2026 to now22
- Co-Chief Investment OfficerAnn Marie Reynolds May 22, 2026 to now23
- Chief Accounting OfficerMichelle Whicher Mar 3, 2025 to now24
- EVP, Chief Risk OfficerAmin A. Viral Apr 25, 2024 to now25
- EVP and Chief Risk OfficerRichard Santoroski Apr 15, 2022 to Apr 25, 202426
- EVP and Co-CIOMarc T. Pangburn Jan 15, 2021 to now27
- EVP and Chief Client OfficerSusan D. Nickey Jan 15, 2021 to now28
- EVPJ. Brendan Herron Mar 7, 2019 to Apr 5, 202129
- Chief Accounting OfficerCharles Melko Mar 17, 2017 to Mar 4, 202430
- EVPDaniel Kevin Macmahon Jun 22, 2015 to Jun 22, 201531
- EVPDaniel K. McMahon Jun 24, 2015 to Apr 25, 202432
- Executive Vice PresidentM. Rhem Wooten Apr 17, 2013 to May 11, 201833
- Senior Vice President & CIONathaniel Rose Apr 17, 2013 to Sep 12, 202434
- Board memberBarry Edward Welch Apr 24, 2025 to now35
- Board memberLaura Ann Schulte May 16, 2025 to now36
- Board memberKimberly A. Reed Mar 8, 2023 to now37
- Board memberLizabeth Ardisana Oct 20, 2022 to now38
- Board memberClarence D. Armbrister Mar 11, 2021 to now39
- Board memberNancy C. Floyd Mar 11, 2021 to now40
- Board memberMichael T. Eckhart Aug 1, 2019 to Jun 7, 202441
- Board memberSimone Lagomarsino Aug 1, 2019 to Mar 29, 202242
- Board memberRebecca Blalock Mar 17, 2017 to Aug 8, 201943
- Board memberJeffrey Eckel Mar 8, 2016 to now44
- Board memberTeresa Brenner Apr 12, 2016 to now45
- Board memberSteven G. Osgood Jan 15, 2015 to now46
- Board memberCharles O'Neil Apr 17, 2013 to now47
- Board memberJackalyne Pfannenstiel Apr 17, 2013 to Apr 11, 201648
- Board memberMark Cirilli Apr 17, 2013 to Aug 8, 201949
- Board memberRichard J. Osborne Apr 17, 2013 to now50
- Board memberJesse Fink May 1, 2013 to Jan 2, 201451
- General counselChristy Ledet Freer-Greene May 1, 2026 to now52
- General counselSteven Chuslo Apr 17, 2013 to now53
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Carboncount Holdings Manager LLC Delaware4
- HA 7V Solar Ranch LLC Delaware4
- HA AllStrong LLC Delaware4
- HA Antelope DSR 3 LLC Delaware4
- HA Athena Capital Holdings LLC Delaware4
- HA Athos III Lender LLC Delaware4
- HA Baldy Mesa Lender LLC Delaware4
- HA Brazoria 2 LLC Delaware4
- HA Brazoria West LLC Delaware4
- HA Buckeye Holdings LLC Delaware4
- HA C-PACE 2019-1 Issuer LLC Delaware4
- HA C-PACE SAC LLC Delaware4
- HA CLP Funding LLC Delaware4
- HA CS Equity Holdings LLC Delaware4
- HA CS5 Equity LLC Delaware4
- HA CS6 Equity LLC Delaware4
- HA CS7 Equity LLC Delaware4
- HA Chap Springs LLC Delaware4
- HA Cielo Lender LLC Delaware4
- HA Clear Fork Creek LLC Delaware4
- HA Clover Creek LLC Delaware4
- HA Coy Hill Road LLC Delaware4
- HA Daggett 2 Lender LLC Delaware4
- HA Daggett Lender LLC Delaware4
All 255 listed subsidiaries
- HA Daybreak Holdings LLC Delaware4
- HA Demeter Capital Lender LLC Delaware4
- HA Double Butte Lender LLC Delaware4
- HA Driving Range A LLC Delaware4
- HA Driving Range C LLC Delaware4
- HA EECI LLC Delaware4
- HA EECI Lender LLC Delaware4
- HA EMaaS Lender LLC Delaware4
- HA Eland LLC Delaware4
- HA Empower Fund 1 LLC Delaware4
- HA FMAC Holdings LLC Delaware4
- HA FMAC K102 LLC Delaware4
- HA FMAC KG02 LLC Delaware4
- HA FMAC KG03 LLC Delaware4
- HA Felix Lender LLC Delaware4
- HA Galileo 2 LLC Delaware4
- HA Galileo LLC Delaware4
- HA Gaskell West 2 LLC Delaware4
- HA Gaskell West 3 LLC Delaware4
- HA Geo Transport LLC Delaware4
- HA Hawkeye LLC Delaware4
- HA Hector 4 LLC Delaware4
- HA Hector LLC Delaware4
- HA High Mesa LLC Delaware4
- HA Howard Fleet Lender LLC Delaware4
- HA INV Buckeye LLC Delaware4
- HA INV Gunsight LLC Delaware4
- HA JBLM Funding LLC Delaware4
- HA Jessup Lender LLC Delaware4
- HA Juniper II LLC Maryland4
- HA Juniper LLC Delaware4
- HA Jupiter LLC Delaware4
- HA LA Fleet Lender LLC Delaware4
- HA Land Financing Depositor LLC Delaware4
- HA Land Financing Issuer 2 LLC Delaware4
- HA Land Financing Issuer LLC Delaware4
- HA Land Financing Member 2 LLC Delaware4
- HA Land Lease Holdings II LLC Delaware4
- HA Land Lease Holdings LLC Delaware4
- HA Land Lease I LLC Delaware4
- HA Land Lease II LLC Delaware4
- HA Lighthouse LLC Delaware4
- HA MHPI Funding LLC Delaware4
- HA Oak Trail LLC Delaware4
- HA P3 Holdings Maryland4
- HA PACE Origination LLC Delaware4
- HA PACE Warehouse LLC Delaware4
- HA PanelCo Lender LLC Delaware4
- HA Poseidon Capital Lender LLC Delaware4
- HA RNG 1 Lender LLC Delaware4
- HA RNG 2 Lender LLC Delaware4
- HA Rabbitbrush LLC Delaware4
- HA Radian Lender LLC Delaware4
- HA Ridgeback 2021 LLC Delaware4
- HA Ridgeback 2022 LLC Delaware4
- HA SRC Holdings LLC Delaware4
- HA SRC Lender 2 LLC Delaware4
- HA SRC Lender LLC Delaware4
- HA San Pablo Raceway LLC Delaware4
- HA Skipjack LLC Delaware4
- HA Spencer Road LLC Delaware4
- HA Spokane Fleet Lender LLC Delaware4
- HA Sun Streams LLC Delaware4
- HA SunStrong Capital LLC Delaware4
- HA Sunrise LLC Delaware4
- HA Thrive 2 LL Delaware4
- HA Thrive LLC Delaware4
- HA VA Carver Creek I LLC Delaware4
- HA Virginia Land LLC Delaware4
- HA WG Funding LLC Maryland4
- HA Wetlands LLC Maryland4
- HA Whalers LLC Delaware4
- HA Wildcat LLC Delaware4
- HA Wildflower Lender LLC Delaware4
- HA Willow Springs 3 LLC Delaware4
- HA Wind I LLC Delaware4
- HA Wind II LLC Delaware4
- HASI AL Solar D Lender LLC Delaware4
- HASI AWP Funding LLC Delaware4
- HASI Antelope Expansion 2 LLC Delaware4
- HASI Aramis Lender LLC Delaware4
- HASI Argus LLC Delaware4
- HASI Bellefield 1 Lender LLC Delaware4
- HASI Bellefield 2 Lender LLC Delaware4
- HASI C&D Lender LLC Delaware4
- HASI Calhoun Lender LLC Delaware4
- HASI Cali Sun 1 LLC Delaware4
- HASI CarbonCount Holdings 1 LLC Delaware4
- HASI Cavalier A Lender LLC Delaware4
- HASI Cavalier A2 Lender LLC Delaware4
- HASI Cayuga Lender LLC Delaware4
- HASI Condor Lender LLC Delaware4
- HASI Crystal Hill Lender LLC Delaware4
- HASI Cumberland LLC Delaware4
- HASI Darden Lender LLC Delaware4
- HASI Dayton ESA LLC Delaware4
- HASI ECON 101 LLC Delaware4
- HASI EaaS Infrastructure LLC Delaware4
- HASI Easley Lender LLC Delaware4
- HASI East Atmore LLC Delaware4
- HASI Efficiency Lender II LLC Delaware4
- HASI Egypt Road Lender LLC Delaware4
- HASI Eleven Mile LLC Delaware4
- HASI Energizar Lender LLC Delaware4
- HASI FMAC KG08 LLC Delaware4
- HASI FTR Funding LLC Delaware4
- HASI Fleet Lender 1 LLC Delaware4
- HASI Fleet Lender 2 LLC Delaware4
- HASI Foley LLC Delaware4
- HASI Galea Springs I Lender, LLC Delaware4
- HASI Gaskell West Storage I LLC Delaware4
- HASI Gemini Lender LLC Delaware4
- HASI Halifax Lender LLC Delaware4
- HASI Harmony Issuer Delaware4
- HASI High Valley Lender LLC Delaware4
- HASI Horseblock Lender LLC Delaware4
- HASI Investment Management LLC Delaware4
- HASI Jones Farm Lender LLC Delaware4
- HASI Julius Capital Lender LLC Delaware4
- HASI Juniper Capital Lender 1 LLC Delaware4
- HASI Keamuku Lender LLC Delaware4
- HASI Keydet Lender LLC Delaware4
- HASI Land Borrower Holdings LLC Delaware4
- HASI Land Borrower LLC Delaware4
- HASI Land Financing Issuer 3 LLC Delaware4
- HASI Land Financing Issuer 4 LLC Delaware4
- HASI Land Financing Issuer 5 LLC Delaware4
- HASI Land Financing Issuer 6 LLC Delaware4
- HASI Land Financing Member 3 LLC Delaware4
- HASI Land Financing Member 4 LLC Delaware4
- HASI Land Financing Member 5 LLC Delaware4
- HASI Land Financing Member 6 LLC Delaware4
- HASI Luna Valley Lender LLC Delaware4
- HASI MHPI FUNDING III LLC Delaware4
- HASI MHPI Funding V LLC Delaware4
- HASI MS Solar 7 Lender LLC Delaware4
- HASI Magenta LLC Delaware4
- HASI Mcfarland A Lender LLC Delaware4
- HASI Mcfarland C Lender LLC Delaware4
- HASI Muni III LLC Delaware4
- HASI Muni IV LLC Delaware4
- HASI Muscle Shoals Member LLC Delaware4
- HASI NC Wetland Lender LLC Delaware4
- HASI OBS OP A LLC Maryland4
- HASI Old Hayneville LLC Delaware4
- HASI Peregrine Lender LLC Delaware4
- HASI Pullman Lender LLC Delaware4
- HASI Raceway Lender LLC Delaware4
- HASI Raven Capital Lender 1 LLC Delaware4
- HASI Rio Lago LLC Delaware4
- HASI Rockhound C Lender LLC Delaware4
- HASI Rockhound D Lender LLC Delaware4
- HASI Rockhound E Lender LLC Delaware4
- HASI Rockhound F Lender LLC Delaware4
- HASI Romulus Capital Lender LLC Delaware4
- HASI Rosamond South I Lender LLC Delaware4
- HASI SE Muni LLC Delaware4
- HASI SYB 2017-1 LLC Delaware4
- HASI SYB I LLC Maryland4
- HASI SYB Trust 2016-2 Holdings LLC Delaware4
- HASI Sabal LLC Delaware4
- HASI San Luis West Lender LLC Delaware4
- HASI Saturn Storage LLC Delaware4
- HASI Sparta LLC Delaware4
- HASI Spring Grove II Lender LLC Delaware4
- HASI SunStrong Lender LLC Delaware4
- HASI SunStrong NH LLC Delaware4
- HASI TAP OBS LLC Delaware4
- HASI TEPH Lender LLC Delaware4
- HASI VRNG Lender LLC Delaware4
- HASI Vikings Lender LLC Delaware4
- HASI Walker Springs I Lender LLC Delaware4
- HASI Walker Springs II Lender LLC Delaware4
- HASI Washington EW Lender LLC Delaware4
- HASI West Line Lender LLC Delaware4
- HASI Westwing 2 Lender LLC Delaware4
- HASI YARIS LLC Delaware4
- HAT Holdings I LLC Maryland4
- HAT Holdings II LLC Maryland4
- HAT OBS OP 5 LLC Maryland4
- HAT OBS OP A LLC Maryland4
- HAT SYB I LLC Maryland4
- HAT SYB Trust 2016-2 Holdings LLC Delaware4
- HAT Scorpio Capital Lender LLC Delaware4
- HAT Terrier Acquisition LLC Delaware4
- HAT Terrier Capital Lender LLC Maryland4
- HAT Ultralight Capital Lender 2 LLC Maryland4
- HAT Ultralight Capital Lender LLC Delaware4
- HAT V3 Capital Lender LLC Delaware4
- HAT V3 Capital Member LLC Delaware4
- Hannie Mae Goco LLC Maryland4
- Hannie Mae II LLC Maryland4
- Hannie Mae IV LLC Maryland4
- Hannie Mae LLC Virginia4
- Hannie Mae SRS Funding LLC Maryland4
- Hannie Mae V LLC Maryland4
- Hannie Mae XI LLC Maryland4
- Hannie Mae XII LLC Maryland4
- Hannie Mae XIII LLC Maryland4
- Hannie Mae XIV LLC Maryland4
- Hannie Mae XIX LLC Maryland4
- Hannie Mae XVII LLC Maryland4
- Hannie Mae XVIII LLC Maryland4
- Hannie Mae XX LLC Delaware4
- Hannie Mae XXII LLC Delaware4
- Hannie Mae XXIII LLC Delaware4
- Hannie Mae XXIV LLC Delaware4
- Hannie Mae XXV LLC Delaware4
- Hannie Mae XXVI LLC Delaware4
- Hannon Armstrong Capital, LLC Maryland4
- Hannon Armstrong KCS Funding LLC Maryland4
- Hannon Armstrong Securities, LLC Maryland4
- Hannon Armstrong Sustainable Infrastructure, L.P. Delaware4
- Hollis Creek Land LLC Delaware4
- Lannie Mae Depositor LLC Maryland4
- Lannie Mae LLC Maryland4
- Rhea Borrower (HASI) LLC Delaware4
- Rhea Borrower (HAT I) LLC Delaware4
- Rhea Borrower (HAT II) LLC Delaware4
- Ridgeback 2021 Class A LLC Delaware4
- Ridgeback 2022 Class A LLC Delaware4
- Shreveport Meters 2023, LLC Delaware4
- Strong Upwind Holdings II LLC Delaware4
- Strong Upwind Holdings III LLC Delaware4
- Strong Upwind Holdings LLC Delaware4
- Strong Upwind Residual LLC Delaware4
- SunStrong Capital Lender 2 LLC Maryland4
- SunStrong Capital Lender 3 LLC Maryland4
- SunStrong Capital Lender 6 LLC Maryland4
- SunStrong Capital Lender Holdings LLC Maryland4
- SunStrong Capital Lender LLC Maryland4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- Hannon Armstrong Sustainable Infrastructure Capital, Inc.Nov 9, 2012 to Jul 2, 20243
Timeline
- Aug 6, 20268-K Results of operations54
- Jul 20, 20268-K Entered a material agreement; Ended a material agreement; New debt or obligation55
- Jun 26, 20268-K Entered a material agreement; New debt or obligation56
- Jun 15, 20268-K Other events57
- Jun 5, 20268-K Shareholder vote58
- May 7, 20268-K Results of operations59
- Mar 27, 20268-K Executive or director change60
- Mar 3, 20268-K Other events61
- Mar 2, 20268-K Entered a material agreement; New debt or obligation62
- Feb 27, 20268-K Entered a material agreement; New debt or obligation63
- Feb 23, 20268-K Entered a material agreement64
- Feb 18, 20268-K Regulation FD disclosure; Other events65
- Jul 2, 2024Founded HA Sustainable Infrastructure Capital, Inc. is founded2
- Mar 3, 2023New chief executive Jeffrey Lipson becomes CEO14
- Apr 17, 2013New chief executive Jeffrey Eckel becomes CEO15
Calendar
Coming up
- Nov 5, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.76 a share, on Nov 6, 2025.66
When it reported results
- Aug 6, 2026Reported quarterly or annual results54
- May 7, 2026Reported quarterly or annual results59
- Feb 12, 2026Reported quarterly or annual results67
- Nov 6, 2025Reported quarterly or annual results68
- Aug 7, 2025Reported quarterly or annual results69
- May 7, 2025Reported quarterly or annual results70
- Feb 21, 2025Reported quarterly or annual results71
- Feb 13, 2025Reported quarterly or annual results72
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
369 filings to the SEC since October 2021: 10 annual reports, 15 quarterly reports, 85 major events, 161 insider forms, 23 large holders, 75 other. The latest 20:
- Aug 19, 2026424B3 EDGAR
- Aug 18, 2026EFFECT EDGAR
- Aug 13, 2026SCHEDULE 13G/A EDGAR
- Aug 10, 2026S-4 EDGAR
- Aug 7, 202610-Q EDGAR
- Aug 6, 20268-K EDGAR
- Jul 20, 20268-K EDGAR
- Jun 26, 20268-K EDGAR
- Jun 15, 20268-K EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20268-K EDGAR
- May 22, 20263 EDGAR
The 369 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
36 open-market trades by officers, directors and large owners since October 2021: 28 buys and 8 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Feb 17, 2026 | Eckel JeffreyDirector | Sale | 134,398 | $39.23 | $5.3M | Form 4 |
| Nov 11, 2024 | Pangburn Marc T.Chief Rev And Strategy Officer | Buy | 3,500 | $28.71 | $100.5K | Form 4 |
| Sep 16, 2024 | Eckel JeffreyDirector | Sale | 36,330 | $34.75 | $1.3M | Form 4 |
| Sep 13, 2024 | Eckel JeffreyDirector | Sale | 109,670 | $34.92 | $3.8M | Form 4 |
| Sep 11, 2024 | Rose Nathaniel | Sale | 10,000 | $33.50 | $335.0K | Form 4 |
| Nov 20, 2023 | Armbrister Clarence DDirector | Buy | 420 | $23.99 | $10.1K | Form 4 |
| Aug 21, 2023 | Eckel JeffreyDirector | Buy | 2,876 | $19.76 | $56.8K | Form 4 |
| Aug 21, 2023 | Lipson JeffreyChief Executive Officer | Buy | 4,000 | $21.09 | $84.4K | Form 4 |
| Aug 21, 2023 | Brenner TeresaDirector | Buy | 1,000 | $20.83 | $20.8K | Form 4 |
| Aug 21, 2023 | Santoroski RichardEVP and Chief Risk Officer | Buy | 2,500 | $20.46 | $51.1K | Form 4 |
| Aug 21, 2023 | Pangburn Marc T.Chief Rev And Strategy Officer | Buy | 5,000 | $21.09 | $105.5K | Form 4 |
| Aug 21, 2023 | OSBORNE RICHARD JDirector | Buy | 1,000 | $19.66 | $19.7K | Form 4 |
| Aug 18, 2023 | Chuslo StevenEVP AND CHIEF LEGAL OFFICER | Buy | 5,000 | $20.93 | $104.7K | Form 4 |
| Aug 18, 2023 | McMahon Daniel K.EVP | Buy | 10,000 | $21.18 | $211.8K | Form 4 |
| Aug 18, 2023 | Rose Nathaniel | Buy | 5,000 | $21.01 | $105.0K | Form 4 |
| Aug 18, 2023 | Melko CharlesCFO & Treasurer | Buy | 2,000 | $21.24 | $42.5K | Form 4 |
| Mar 16, 2023 | Nickey Susan DEVP and Chief Client Officer | Buy | 2,000 | $23.91 | $47.8K | Form 4 |
| Mar 16, 2023 | Rose Nathaniel | Buy | 10,000 | $24.10 | $241.0K | Form 4 |
| Mar 16, 2023 | Lipson JeffreyChief Executive Officer | Buy | 3,000 | $24.36 | $73.1K | Form 4 |
| Mar 16, 2023 | Pangburn Marc T.Chief Rev And Strategy Officer | Buy | 3,000 | $24.12 | $72.4K | Form 4 |
All 36 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Wellington Management CompanySCHEDULE 13G/A, 7 filings Feb 4, 2022 to Aug 13, 202673
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 28, 202674
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 28, 202675
- VANGUARD GROUP INCSCHEDULE 13G/A, 5 filings Feb 9, 2022 to Mar 26, 202676
- T. Rowe Price Investment Management, Inc.SCHEDULE 13G, 1 filing Feb 17, 202677
- FMR LLCSCHEDULE 13G/A, 2 filings May 12, 2025 to Nov 5, 202578
- BlackRockSCHEDULE 13G/A, 6 filings Feb 3, 2022 to Jul 18, 202579
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Jeffrey A. LipsonDirector, Chief Executive Officer and President | 58 | $807.3K | $9.6M80 |
| 2025 | Marc T. PangburnSenior Managing Director and Chief Revenue and Strategy Officer | 40 | $470.2K | $4.4M80 |
| 2025 | Susan D. NickeySenior Managing Director and Chief Client Officer | 65 | $440.0K | $3.3M80 |
| 2025 | Steven L. ChusloExecutive Vice President and Chief Legal Officer | 68 | $414.6K | $2.6M80 |
| 2025 | Charles W. MelkoSenior Managing Director and Chief Financial Officer | 46 | $397.1K | $2.0M80 |
| 2025 | Nitya GopalakrishnanSenior Managing Director and Chief Operating Officer | 54 | $192.3K | $1.7M80 |
| 2024 | Jeffrey A. LipsonDirector, Chief Executive Officer and President | 58 | $775.0K | $8.4M80 |
| 2024 | Marc T. PangburnSenior Managing Director and Chief Revenue and Strategy Officer | 40 | $446.2K | $3.2M80 |
| 2024 | Susan D. NickeySenior Managing Director and Chief Client Officer | 65 | $436.9K | $2.8M80 |
| 2023 | Jeffrey A. LipsonDirector, Chief Executive Officer and President | 58 | $762.2K | $8.2M80 |
| 2023 | Marc T. PangburnSenior Managing Director and Chief Revenue and Strategy Officer | 40 | $446.0K | $2.8M80 |
| 2023 | Susan D. NickeySenior Managing Director and Chief Client Officer | 65 | $441.9K | $2.7M80 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 21,357,545 | $834.0M | 0.0% | +1,248,462 |
| Wellington Management Group Llp | 9,778,291 | $381.8M | 0.1% | −1,610,320 |
| Vanguard Portfolio Management LLC | 7,905,349 | $308.7M | 0.0% | +167,178 |
| Vanguard Capital Management LLC | 5,773,860 | $225.5M | 0.0% | +75,961 |
| State Street Corp | 5,733,734 | $223.9M | 0.0% | +335,288 |
| Jpmorgan Chase & Co | 4,475,858 | $174.6M | 0.0% | +521,369 |
| Alliancebernstein L.P. | 4,564,467 | $167.7M | 0.1% | −10,513 |
| Geode Capital Management, LLC | 3,697,531 | $144.4M | 0.0% | +606,318 |
| Invesco Ltd. | 2,850,145 | $111.3M | 0.0% | +152,941 |
| Amundi | 2,388,998 | $93.4M | 0.0% | −33,221 |
| Morgan Stanley | 2,330,143 | $91.0M | 0.0% | +286,485 |
| Fmr LLC | 2,046,349 | $79.9M | 0.0% | −149,374 |
| Northern Trust Corp | 1,794,313 | $70.1M | 0.0% | +217,001 |
| Norges Bank | 1,736,932 | $67.8M | 0.0% | New |
| Rockefeller Capital Management L.P. | 1,688,146 | $65.9M | 0.1% | +62,382 |
| Goldman Sachs Group Inc | 1,683,129 | $65.7M | 0.0% | −76,500 |
| Schroder Investment Management Group | 1,662,808 | $64.8M | 0.0% | −350,662 |
| Erste Asset Management GmbH | 1,611,218 | $63.0M | 0.5% | −585,925 |
| Swedbank AB | 1,591,618 | $62.2M | 0.1% | +500,090 |
| Neumeier Poma Investment Counsel LLC | 1,558,663 | $60.9M | 4.2% | +26,919 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 1,534,959 | $59.9M | 0.0% | +1,530,079 |
| Bank of New York Mellon Corp | 1,310,518 | $51.2M | 0.0% | +38,952 |
| Hood River Capital Management LLC | 1,301,308 | $50.8M | 0.4% | −22,602 |
| Charles Schwab Investment Management Inc | 1,219,918 | $47.6M | 0.0% | +31,671 |
| Bank Of America Corp /de/ | 1,209,286 | $47.2M | 0.0% | −218,129 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
10 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Dec 20, 2023 | Dwight EvansDemocratic, House | Sale | $1,001 - $15,000 | +29.0% | Report |
| Feb 21, 2023 | Thomas R Carper, Senate | Buy | $1,001 - $15,000 | −78.7% | Report |
| Jan 18, 2022 | Thomas R Carper, Senate | Partial sale | $1,001 - $15,000 | +81.8% | Report |
| May 11, 2021 | Susie LeeDemocratic, House | Sale | $1,001 - $15,000 | +108.8% | Report |
| Oct 14, 2020 | Dwight EvansDemocratic, House | Partial sale | $1,001 - $15,000 | +142.1% | Report |
| Oct 9, 2020 | John R. CurtisRepublican, House | Sale | $1,001 - $15,000 | +142.2% | Report |
| Oct 1, 2020 | Susie LeeDemocratic, House | Buy | $1,001 - $15,000 | −143.6% | Report |
| Sep 18, 2020 | Susie LeeDemocratic, House | Buy | $1,001 - $15,000 | −139.4% | Report |
| Jul 9, 2020 | Thomas R Carper, Senate | Partial sale | $1,001 - $15,000 | +121.2% | Report |
| Mar 4, 2020 | John R. CurtisRepublican, House | Buy | $1,001 - $15,000 | −148.9% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How HA Sustainable Infrastructure Capital, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARHA Sustainable Infrastructure Capital, Inc.1
- CIK0001561894
- Employer ID (EIN)46-13474565
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
- Incorporated inDelaware5
- Fiscal year endsDecember 311
- Industry code (SIC)6799 Investors, NEC1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business addressOne Park Place, Suite 200, Annapolis, MD 214011
- Phone(410) 571-98601
- Shares outstanding128,495,790 as of Aug 4, 202612
- Public float$3.3B as of Jun 30, 20255
- AuditorErnst & Young LLP, Tysons, Virginia PCAOB ID 42; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceNov 9, 20121
- Filings1,019 in all: 4 (486), 8-K (190), 10-Q (41), SC 13G/A (41), 3 (35), 424B5 (35), DEFA14A (16), UPLOAD (14)1
All 43 form types
10-K (13), DEF 14A (13), CORRESP (11), 10-K/A (10), 424B3 (10), FWP (8), SC 13G (8), EFFECT (7), S-3ASR (7), 5 (6), S-11/A (6), SCHEDULE 13G/A (6), 8-K/A (5), ARS (5), POSASR (5), 144 (4), 4/A (4), S-8 (4), S-8 POS (4), SCHEDULE 13G (4), 424B1 (2), 8-A12B (2), DRS/A (2), S-11 (2), S-3 (2), S-4 (2), 10-Q/A (1), 25-NSE (1), 8-A12B/A (1), CERT (1), CERTNYS (1), DRS (1), POS AM (1), PRE 14A (1), SC 13D (1)
- Latest filingsAnnual report (10-K) Feb 13, 2026
Quarterly report (10-Q) Aug 7, 2026
Proxy statement (DEF 14A) Apr 13, 2026
Latest 8-K (8-K) Aug 6, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.01 par value per share | HASI | New York Stock Exchange |
From the cover page of the 10-K filed Feb 13, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks HA Sustainable Infrastructure Capital, Inc. names in Item 1A of its 10-K filed Feb 13, 2026: 57 risks under these headings, as written.5
- Risks Related to Our Business and Our Industry
- If the cost of energy generated by traditional sources of energy declines from present levels, demand for the projects in which we invest may decline.
- If the market for various types of climate solutions projects or the investment techniques related to such projects do not develop as we anticipate, new business generation in this target area may be adversely impacted.
- Some projects in which we invest rely on net metering and related policies to improve project economics which if reduced could impact repayment of our investments or the return on our assets.
- Existing electric utility industry regulations, and changes to regulations, may present technical, regulatory and economic barriers to the purchase and use of renewable energy and energy efficiency systems that may significantly reduce demand for systems and projects in which we invest or may adversely affect the profitability of such projects.
- We are subject to risks related to our sustainability and governance activities and disclosures.
- We operate in a competitive market, which may impact the terms of our investments.
- Our business is influenced by and depends in part on U.S. federal, state and local government laws, regulations and policies, and changes in such laws, regulations or policies, or a decline in the level of government support could adversely affect our business.
- U.S. federal, state and local government entities are major participants in, and regulators of, the energy industry, and their actions could be adverse to our project companies or our Company.
- A change in the fiscal health, level of appropriations or budgets of U.S. federal, state and local governments could reduce demand for our investments.
- Risks Related to Our Assets and Projects in Which We Invest
- Changes in interest rates could adversely affect the value of our assets and negatively affect our profitability.
The other 47 risks
- The lack of liquidity of our assets may adversely affect our business, including our ability to value our assets.
- Some of the assets in our Portfolio may be recorded at fair value and, as a result, there could be uncertainty as to the value of these assets. Further, we may experience a decline in the fair value of our assets.
- Our projects and their obligors are exposed to an increase in climate change or other change in meteorological conditions, which could have an impact on electric generation, revenue, insurance costs or the ability of the projects or their obligors to honor their contract obligations, all of which could adversely affect our business, financial condition and results of operations and cash flows.
- The preparation of our financial statements, including provision for loan losses, involves use of estimates, judgments and assumptions, and our financial statements may be materially affected if our estimates prove to be incorrect.
- We rely on our project sponsors for financial reporting related to our project companies, and our financial statements may be materially affected if the financial reporting related to our project companies proves to be incorrect.
- Our investments are subject to delinquency, foreclosure and loss, any or all of which could result in losses to us.
- The projects in which we invest may incur liabilities that rank equally with, or senior to, our investments in such projects.
- We invest in joint ventures and other similar arrangements that subject us to additional risks.
- Many of the projects in which we invest depend on revenues from third-party contractual arrangements, including PPAs, that expose the projects to various risks.
- We are exposed to the credit risk of various project sponsors, ESCOs, and others.
- The ability of our assets to generate revenue from certain projects depends on having interconnection arrangements and services.
- Operation of the projects in which we invest involves significant risks and hazards that could have a material adverse effect on our business, financial condition, results of operations and cash flows.
- Some of the projects in which we invest may require substantial operating or capital expenditures in the future.
- The use of real property rights that we acquire or are used for our climate solutions projects may be adversely affected by the rights of lienholders and leaseholders that are superior to those of the grantors of those real property rights to us.
- We have invested in, through various structures, land or leasehold interests that are used by renewable energy projects. Negative market conditions or adverse events affecting tenants, or the industries in which they operate, could have an adverse impact on our underwritten returns. Moreover, many of our real estate assets are concentrated in similar geographic locations, which subjects us to an increased risk of significant loss if any property declines in value, incurs a natural disaster or if we are unable to lease a property.
- Performance of projects where we invest may be harmed by future labor disruptions and economically unfavorable collective bargaining agreements.
- We invest in projects that rely on third parties to manufacture quality products or provide reliable services in a timely manner and the failure of these third parties could cause project performance to be adversely affected.
- Liability relating to environmental matters may impact the value of properties that we may acquire or the properties underlying our assets.
- Insurance and contractual protections may not always cover lost revenue, increased expenses or liquidated damages payments.
- The repayment of certain of our assets is dependent upon collection of payments from residential customers and we may be indirectly subject to consumer protection laws and regulations.
- Risks Related to Our Company and Structure
- Our business could be harmed if key personnel terminate their employment with us.
- Conflicts of interest could arise as a result of our structure.
- Our charter and bylaws, as well as Delaware law, contain provisions that could discourage acquisition bids or merger proposals, which may adversely affect the market price our common stock.
- Our charter designates the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, employees or agents.
- Failure to qualify as a REIT for prior taxable years would subject us to U.S. federal income tax and potentially state and local tax.
- Our ability to utilize our NOLs and other carryforwards may be limited.
- We may be subject to adverse legislative or regulatory tax changes that could increase our tax liability, reduce our operating flexibility, and reduce the market price of shares of our stock.
- Our management and employees depend on information systems and system failures could significantly disrupt our business, which may, in turn, negatively affect the market price of our common stock and our ability to pay dividends to our stockholders.
- We contract with information technology service providers where, in part, we rely upon their systems and controls for the quality of the data provided. The inappropriate establishment and maintenance of these systems and controls could cause information that we use to operate our business to be unavailable or inaccurate and could negatively impact our financial results.
- Artificial intelligence could increase competitive, operational, legal and regulatory risks to our business in ways that we cannot predict.
- Cybersecurity risks and cyber incidents may adversely affect our business by causing a disruption to our operations, a compromise or corruption of our confidential information, a misappropriation of funds, and/or damage to our business relationships, all of which could negatively impact our financial results.
- We may seek to expand our business internationally, which would expose us to additional risks that we do not face in the United States. A failure to manage these additional risks could have an adverse effect on our business, financial condition and operating results.
- Risks Relating to Regulation
- We cannot predict the unintended consequences and market distortions that may stem from far-ranging governmental intervention in the economic and financial system or from regulatory reform of the oversight of financial markets.
- Loss of our 1940 Act exemptions may adversely affect us, the market price of shares of our common stock and our ability to distribute dividends.
- Rapid changes in the values of our assets may make it more difficult for us to maintain our exemption from the 1940 Act.
- Risks Related to our Borrowings and Hedging
- We use financial leverage in executing our business strategy, which may adversely affect the returns on our assets and may reduce cash available for distribution to our stockholders, as well as increase losses when economic conditions are unfavorable.
- We and our subsidiaries may be able to incur substantially more indebtedness, which may increase the risks to our financial condition and results of operations created by our indebtedness.
- An increase in our borrowing costs relative to the interest we receive on our assets may adversely affect our profitability and our cash available for distribution to our stockholders. Our borrowings may have a shorter duration than our assets.
- While we have an established Board-approved leverage limit, our Board may change our leverage limits without stockholder approval.
- The use of securitizations and special purpose entities exposes us to additional risks.
- Certain of our existing credit facilities and debt contain, and any future financing facilities may contain, covenants that restrict our operations and may inhibit our ability to grow our business and increase revenues.
- We, or the projects in which we invest, enter into hedging transactions that could expose us to contingent liabilities or additional credit risk in the future and adversely impact our financial condition.
- If we, or our projects, choose not to pursue, or fail to qualify for, hedge accounting treatment, our operating results under GAAP may be impacted because losses on the derivatives that we enter into may not be offset by a change in the fair value of the related hedged transaction.
- Risks Related to Our Common Stock
- An active trading market for our common stock may not continue, which could cause our common stock to trade at a discount and make it difficult for holders of our common stock to sell their shares.
- Common stock and preferred stock eligible for future sale may have adverse effects on our share price.
- We cannot guarantee the timing, amount, or payment of dividends on our common stock.
- Future offerings of debt or equity securities, which may rank senior to our common stock, may adversely affect the market price of our common stock.
Legal proceedings
From time to time, we may be involved in various claims and legal actions in the ordinary course of business. As of December 31, 2025, we are not currently subject to any legal proceedings that are likely to have a material adverse effect on our financial position, results of operations or cash flows.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 27SEC EDGARMarc T. Pangburn, EVP and Co-CIO
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- 29SEC EDGARJ. Brendan Herron, EVP
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- 31SEC EDGARDaniel Kevin Macmahon, EVP
- 32SEC EDGARDaniel K. McMahon, EVP
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- 35SEC EDGARBarry Edward Welch, Board member
- 36SEC EDGARLaura Ann Schulte, Board member
- 37SEC EDGARKimberly A. Reed, Board member
- 38SEC EDGARLizabeth Ardisana, Board member
- 39SEC EDGARClarence D. Armbrister, Board member
- 40SEC EDGARNancy C. Floyd, Board member
- 41SEC EDGARMichael T. Eckhart, Board member
- 42SEC EDGARSimone Lagomarsino, Board member
- 43SEC EDGARRebecca Blalock, Board member
- 44SEC EDGARJeffrey Eckel, Board member
- 45SEC EDGARTeresa Brenner, Board member
- 46SEC EDGARSteven G. Osgood, Board member
- 47SEC EDGARCharles O'Neil, Board member
- 48SEC EDGARJackalyne Pfannenstiel, Board member
- 49SEC EDGARMark Cirilli, Board member
- 50SEC EDGARRichard J. Osborne, Board member
- 51SEC EDGARJesse Fink, Board member
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- 53SEC EDGARSteven Chuslo, General counsel
- 54SEC EDGARResults of operations
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- 57SEC EDGAROther events
- 58SEC EDGARShareholder vote
- 59SEC EDGARResults of operations
- 60SEC EDGARExecutive or director change
- 61SEC EDGAROther events
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- 64SEC EDGAREntered a material agreement
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- 66NasdaqNasdaq calendar
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