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    Heidi Hauch • BNP Paribas

    Heidi Hauch is a Vice President and Research Analyst at BNP Paribas Securities Corp., focusing on equity research in multiple sectors. She has provided analysis and initiated coverage on companies like Northland Power, and has been noted for her research calls such as a 'Hold' rating with specific price targets, though public ranking metrics and detailed performance history are limited. Hauch began her career after graduating from the Kelley School of Business and has held analyst positions at Barclays Capital and BofA Securities before joining BNP Paribas. She holds active FINRA registration and securities licenses, reflecting a fully credentialed background for equity research.

    Heidi Hauch's questions to HA Sustainable Infrastructure Capital Inc (HASI) leadership

    Heidi Hauch's questions to HA Sustainable Infrastructure Capital Inc (HASI) leadership • Q4 2024

    Question

    Heidi Hauch, on for Moses Sutton, asked if a potential reduction in tax credits would create a larger investment opportunity for HASI by widening the capital stack gap that needs to be filled.

    Answer

    Chief Revenue & Strategy Officer Marc Pangburn confirmed that, incrementally, a reduction in tax equity would likely create a larger monetization opportunity for HASI. He explained that if tax equity decreases, sponsors would likely pass through higher PPA rates, increasing the level of cash equity in a project's capital stack, which is where HASI typically invests.

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