Hannon Armstrong Sustainable Infrastructure Capital Inc (NYSE:HASI) reported GAAP net profit of USD 10.24 million (EUR 9.2m) for the first nine months of 2016, nearly doubling the year-ago result.
The company provides debt and equity financing for renewables and efficiency projects. Its portfolio has reached nearly USD 1.4 billion as of September 30, 2016, including roughly USD 0.4 billion of energy efficiency investments and some USD 1.0 billion of wind and solar transactions.
HASI has completed USD 712 million of transactions year-to-date, which is up from USD 595 million in the same period of 2015. Company head Jeffrey Eckel said there is increased activity in wind equity investment opportunities as well as in the commercial distributed solar segment.
Financial performance figures are available in the table.
(Results in USD million)
GAAP net profit
Total GAAP revenue
"Our diversified origination channels across multiple end markets continue to demonstrate the strength in our strategy, as we completed approximately USD 242 million of originations in the quarter, putting us approximately 20% ahead of last year at this time on a year to date basis," said Eckel.
Hannon Armstrong Sustainable Infrastructure Capital is among the main financing providers for US government energy efficiency projects.