HASI

HA Sustainable Infrastructure Capital, Inc.

Ticker: HASIFinancialsHolding & Investment
HQ ANNAPOLIS, MDCIK 1561894FY end 12-31Book / share $17.77Shares 143M
Revenue (FY)
$400.50M+4.41%
TTM $462.89M
Op. margin
0.00%
Net income
$188.24M-7.56%
TTM $88.30M
Operating cash
$167.32M+2759.14%
TTM $208.53M
Free cash flow
$167.32M+2759.14%
TTM $208.53M
Return on equity
7.17%-1.39%
TTM 3.39%
Debt / equity
2.00+0.12%
TTM 2.32
Shares outstanding
138.2M+5.89%
TTM 143.0M

The business

HA Sustainable Infrastructure Capital, Inc. (HASI) operates as a publicly traded investor in sustainable infrastructure assets advancing the energy transition. The company trades on the New York Stock Exchange under the ticker HASI and maintains its website at www.hasi.com.

HASI functions as an internally managed investment firm with over 170 full-time investment, operating, and technical professionals. The company deploys capital primarily in income-generating real assets supported by long-term recurring cash flows across three primary climate solutions markets: Behind-the-Meter assets including residential and commercial solar and storage plus energy efficiency projects; Grid-Connected assets encompassing utility-scale solar, wind, and battery energy storage systems; and Fuels, Transport, and Nature investments including renewable natural gas facilities, fleet decarbonization, and ecological restoration projects.

As of December 31, 2025, HASI manages approximately $16.1 billion in assets, with a retained portfolio of $7.6 billion on its balance sheet comprising over 700 individual investments. The portfolio allocation consists of approximately 52 percent Behind-the-Meter assets, 34 percent Grid-Connected assets, and 14 percent Fuels, Transport, and Nature investments. The company's managed assets represent more than 8 gigawatts of solar capacity, more than 7 gigawatts of onshore wind capacity, battery storage capacity exceeding 2 gigawatt-hours, renewable natural gas facilities with capacity to produce over 57 million diesel gallons-equivalent annually, and more than 380 energy efficiency projects.

Over its 30-year operating history, HASI has closed more than 1,300 cumulative investments spanning over 150 different clients. The company completed approximately $4.3 billion in transactions during 2025 and has closed more than $14 billion in transactions since 2020. HASI estimates its investments enable the avoidance of approximately 10 million metric tons of carbon dioxide equivalent annually based on aggregate first-year operations.

The company finances its investments through corporate bonds, bank debt, equity issuances, securitizations, and co-investment structures. HASI maintains long-standing programmatic relationships with leading clean energy project developers, owners, operators, utilities, and energy service companies. The company employs 178 people and operates with a focus on generating attractive risk-adjusted returns while maintaining transparent disclosure on sustainability, impact, and governance matters.

Sector
Financials
Industry
Holding & Investment
HQ
ANNAPOLIS, MD
FY end
12-31
CIK
1561894
SIC
6799
Financial performance · annual
20132025
$-60.19M$82.47M$225.13M$367.79M$510.44M2013201420152016201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds HA Sustainable Infrastructure Capital, Inc. — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

276
funds hold it
0 of 35
superinvestors hold it
$2.28B
fund-held value
44.6%
of shares held by funds
8
bond issues held by funds

Top fund holders

Fund% of fundValue
iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.27%$300.67M
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%$159.15M
VANGUARD EXPLORER FUND
VEXPX
0.62%$135.32M
iShares Russell 2000 ETF
IWM · iShares Trust
0.16%$129.36M
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.06%$115.06M

Bonds held by funds

Funds report holding 8 issues of HA Sustainable Infrastructure Capital, Inc.'s debt, $1.37B at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 6.73%, maturing 20262056.

IssueCouponMaturesFundsFund-held
HA Sustainable Infrastructure Capital Inc6.375%2034-07-01117$392.84M
HASI 7 1/8 11/15/567.125%2056-11-15132$257.17M
HA Sustainable Infrastructure Capital Inc8.000%2056-06-01136$245.11M
HA Sustainable Infrastructure Capital Inc6.150%2031-01-1572$222.63M
HA Sustainable Infrastructure Capital Inc6.750%2035-07-1553$96.21M
HA Sustainable Infrastructure Capital Inc6.000%2036-03-1557$85.08M
HA Sustainable Infrastructure Capital Inc5.950%2033-07-1549$67.23M
HA Sustainable Infrastructure Capital, Inc.0.000%2026-05-011$4.50M

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

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15 years of HA Sustainable Infrastructure Capital, Inc.'s financials

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