HA Sustainable Infrastructure Capital, Inc. (NYSE:HASI) is one of the 10 best financial stocks to buy for the long term. RBC Capital analyst Chris Dendrinos reiterated his Buy rating on HA Sustainable Infrastructure Capital, Inc. (NYSE:HASI) with a price target of $39 on January 20. The firm’s price target suggests a further 13% upside from the current levels.
On January 6, HA Sustainable Infrastructure Capital, Inc. (NYSE:HASI) and Sunrun (RUN) announced the completion of an innovative joint venture aimed at accelerating the deployment of residential solar and battery systems. The collaboration is expected to eventually finance more than 300 megawatts of capacity, supporting over 40,000 home power installations across the United States.
As part of the agreement, HA Sustainable Infrastructure Capital, Inc. (NYSE:HASI) will invest up to $500 million over 18 months into the joint venture. HASI’s structured equity investment is intended to monetize a portion of the long-term cash flows generated by Sunrun’s residential energy assets. This structure not only provides a predictable return for HASI but also allows Sunrun to maintain a long-term ownership stake. According to the companies, this approach is anticipated to deliver a more efficient cost of capital, enhancing overall financial efficiency.
HASI’s Chief Revenue and Strategy Officer, Marc Pangburn, said:
“Together, HASI and Sunrun are accelerating the development of essential infrastructure through home-based energy systems that improve grid reliability and address growing power demand.”
HA Sustainable Infrastructure Capital, Inc. (NYSE:HASI) invests in sustainable infrastructure and energy-efficiency markets across the United States. Its portfolio consists of commercial & government receivables, debt securities, equity investments, and real estate. The company invests in Grid-Connected, climate solutions, and Fuels, Transport, and Nature, a range of infrastructure assets.
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Disclosure: None. This article is originally published at Insider Monkey.
