Q2 2022 Hannon Armstrong Sustainable Infrastructure Capital Inc Earnings Call
21e of the Securities and Exchange Act of 1934 as amended.
The company claims the protection of the safe harbor for the forward-looking statements contained in such sections. The forward-looking statements made in this call are subject to risks and uncertainties described in the risk factors section of the company's Form 10-K and other filings with the FCC. These actual results may differ materially from those described in the call.
In addition, all forward-looking statements are made as of today and the company undertake any responsibility to update any forward-looking statements based on new circumstances or revised acceptance. During this call, we primarily discuss non-napped financial measures, which we believe help investors gain a meaningful understanding of our core financial wisdom guidance. A presentation of this information is not intended to be considered isolation or as a substitute for financial information presented in accordance with JAP.
The continuation of Gap on GAAP financial s is available on our post earnings release at light presentation. Joining me today on today's call are Jeff Eccle, the company's Femin and CEO and Jeff Littson and COTO. With that, I'd like to tender call the Jeff Eccle over the beginning of light three. with that, I'd like to tender call the Jeff Eccle over the beginning of light three.
Thank you, Neha. Good afternoon, everyone. Today we are pleased to continue strong improvements in the second quarter with record distributable earnings of 60 cents per share, a 5% increase over last year. So continued growth and net investmenting of 44% from last year and up 13% from last quarter. Additive and end of 30 and a half cents per share. The on-bound key portfolio grew 30% year over 3.9 billion.
and demonstrates programmatic execution of investments with key clients that all of the ones
Given our confidence in the business outlook, we want again, our pleas to reaffirm our clients for end growth in the strittable EPS of 10% to 13% through 2024 and five to 8% annual growth in our dividend period. Given our confidence in the business outlook,
Our investment in order and efficiency upgrade in a light industrial building in Baltimore, Maryland results in a carbon count score of 1.6. This relatively high carbon count means our investment has a much higher impact on carbon reduction per dollar spent.
Turning this slide for, I'll touch briefly on the macro trends in the climate and industry. As many of you know, the climate provisions in the inflation reduction introduced last week offer a powerful, pop-etail one to earn. If enacted, the bill would further accelerate removal energy deployment by extending and simplifying the tax credit-only projects. Fert would dramatically expand the best of the universe on its solutions.
particularly by accelerating energy storage and hydrogen deployment in the U.S. Well, our distance is not reliant IRA becoming law. There is no doubt that Hasse and our clients would significantly benefit passage.
Next, the economics of renewable energy projects are improved as the industry is continuing to adapt to inflation by raising PPA prices, which average have risen almost 70 over a year. These price increases are generally less than the price increased customers have experienced due to rising natural gas prices reflected in the whole power market, leading to pricing power for our clients. We expect the global demand for US LNG in light of the Ukraine-Russia war will keep natural gas prices elevated.
Increasing retail utility rates make solar and efficiency investments even more compelling to the behind-the-meter end user, keen to blunt the impacts of inflation and their utility rates.