ANNAPOLIS, Md.–(BUSINESS WIRE)–Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI), a leading investor in climate solutions, today announced that its Board of Directors has unanimously approved a plan to revoke its Real Estate Investment Trust (REIT) election and become a taxable C-Corporation, effective January 1, 2024.
The Board’s decision was made after careful consideration of all relevant implications and is not expected to have any material impact on the Company’s business or operations. The Company expects its existing net operating losses (“NOLs”) and other tax attributes will enable HASI to continue to operate in a tax efficient manner.
“We’ve concluded that our optimal tax structure moving forward is to cease electing REIT status in 2024,” said Jeffrey A. Lipson, President and CEO of HASI. “This change leaves our investment strategy intact and provides greater flexibility to capitalize on the tremendous growth opportunities associated with the clean energy transition.”
For further information, please visit investors.hasi.com/resources/faq.
About HASI
HASI (NYSE: HASI) is a leading climate positive investment firm that actively partners with clients to deploy real assets that facilitate the energy transition. With more than $11 billion in managed assets, our vision is that every investment improves our climate future. For more information, please visit hasi.com.
