The following is a summary of the HA Sustainable Infrastructure Capital, Inc. (HASI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• HASI reported YTD adjusted earnings per share of $1.83, an 8% increase over the same period in 2023.

• Managed assets grew by 14% over the last 12 months, now exceeding $13 billion.

• Portfolio yield increased to 8.1%, driven by new asset yields of approximately 10.5% YTD.

Business Progress:

• HASI closed $1.2 billion in new investments YTD and forecasts reaching $1.7 billion by year-end.

• The company maintains a robust investment pipeline valued over $5.5 billion, diversified across different markets.

• Partnerships with entities like KKR and transitions in the SunStrong JV have been managed effectively, aligning with business goals and expansion strategies.

Opportunities:

• HASI expects increased demand for power generation and clean energy investments, projecting continued growth across geographic and political landscapes.

• Strategic partnership in the CCH1 project with KKR aims for a $2 billion investment target by year-end 2025.

Risks:

• Market volatility related to renewable energy credits and adjustments in value due to shifting power contract prices necessitate careful risk management.

• Interest rate risks and economic shifts are consistently hedged to minimize negative impacts on earnings.

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