Hannon Armstrong Surpasses $6 Billion in Energy Efficiency Investments
December 15 2020 - 3:31PM
Business Wire
Since 2000, Climate Investment Firm Has
Financed More Than 600 Energy Savings Projects
Hannon Armstrong Sustainable Infrastructure Capital, Inc.
("Hannon Armstrong") (NYSE: HASI), a leading investor in climate
solutions, today announced the company has exceeded $6 billion in
energy efficiency investments from more than 600 individual
transactions with leading behind-the-meter energy service companies
serving federal, state, local and commercial energy efficiency
markets since 2000.
Crossing the milestone $6 billion energy efficiency investment
figure corresponds with the 20th anniversary of the creation of the
company's pioneering Hannon Armstrong Multi-Asset Infrastructure
Trust ("HannieMae"), the first securitization platform for
financing energy efficiency at scale.
"The finance problem we solved 20 years ago addressed how to
capture the pricing advantages of financing large energy projects
for the benefit of smaller individual investments inherent in
behind-the-meter assets like energy efficiency. HannieMae cracked
the code for us two decades ago and continues to provide a means
for private capital to fund energy efficiency at scale for the
federal government in order to save the taxpayers money, reduce
carbon emissions, create jobs, and improve the infrastructure and
resiliency of the U.S.," said Hannon Armstrong Chairman and CEO
Jeffrey W. Eckel. "We expect the incoming Biden administration will
support further expansion and acceleration of one of America's most
successful models for public-private partnerships."
Hannon Armstrong's total investments in energy efficiency
projects have an average CarbonCount® score of 0.38 metric tons of
CO2 equivalent ("CO2e") emissions avoided annually per $1,000
invested, as well as a WaterCount™ score of 658 gallons of water
consumption avoided annually for every $1,000 invested. The
estimated 21.2 million tons of CO2e avoided emissions over 20 years
is equivalent to the amount of CO2e emissions from 116,390 rail
cars of coal, which would stretch from Annapolis, Md. to Kansas
City, Mo. when linked end to end. The 36.3 billion gallons of water
consumption saved by these investments over the same period could
fill three bathtubs for every person in the United States.
"The success of the HannieMae structure has provided a template
for financing distributed technology at scale," said Hannon
Armstrong Chief Investment Officer Nathaniel J. Rose. "Since
closing the first HannieMae tranche in 2000, we have successfully
leveraged the power of the structure to achieve this exciting
milestone," added Rose.
Energy savings performance contracts ("ESPCs") allow federal
agencies to procure energy efficiency measures and facility
improvements with no up-front capital costs. According to the most
current data from the Department of Energy, there are nearly $8
billion in identified energy conservation measures for federal
agencies, which would save the government almost $800 million a
year in energy and water-related costs. Implementing these measures
would avoid approximately 3 million metric tons of CO2e emissions
annually.
In addition to the ESPC structure used in the government sector,
Hannon Armstrong utilizes a range of innovative methods for
financing efficiency projects in the commercial and industrial
sector, including Energy-as-a-Service, Energy
Management-as-a-Service, and Commercial Property Assessed Clean
Energy.
About Hannon Armstrong
Hannon Armstrong (NYSE: HASI) is the first U.S. public company
solely dedicated to investments in climate solutions, providing
capital to leading companies in energy efficiency, renewable
energy, and other sustainable infrastructure markets. With more
than $6 billion in managed assets as of September 30, 2020, Hannon
Armstrong's core purpose is to make climate-positive investments
with superior risk-adjusted returns. For more information, please
visit www.hannonarmstrong.com. Follow Hannon Armstrong on LinkedIn
and Twitter @HannonArmstrong.
Forward Looking Statements
Some of the information in this press release contains
forward-looking statements and within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. When used in this
press release, words such as "believe," "expect," "anticipate,"
"estimate," "plan," "continue," "intend," "should," "may,"
"target," or similar expressions, are intended to identify such
forward-looking statements. Forward-looking statements are subject
to significant risks and uncertainties. Investors are cautioned
against placing undue reliance on such statements. Actual results
may differ materially from those set forth in the forward-looking
statements. Factors that could cause actual results to differ
materially from those described in the forward-looking statements
include those discussed under the caption "Risk Factors" included
in our Annual Report on Form 10-K for our fiscal year ended
December 31, 2019, which was filed with the U.S. Securities and
Exchange Commission ("SEC"), as well as in other reports that we
file with the SEC.
Forward-looking statements are based on beliefs, assumptions and
expectations as of the date of this press release. We disclaim any
obligation to publicly release the results of any revisions to
these forward-looking statements reflecting new estimates, events
or circumstances after the date of this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201215006113/en/
Media Gil Jenkins media@hannonarmstrong.com
443-321-5753
Investors Chad Reed investors@hannonarmstrong.com
410-571-6189
HA Sustainable Infrastru... (NYSE:HASI)
Historical Stock Chart
From Jul 2024 to Aug 2024
HA Sustainable Infrastru... (NYSE:HASI)
Historical Stock Chart
From Aug 2023 to Aug 2024