HA Sustainable Infrastructure Capital, Inc. (HASI) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:02.655 literally 100% of the loans in Resy are performing. 00:00:02.655 -- 00:00:07.020 So, again, it's well within our underwriting guidelines, and we're not seeing stress 00:00:07.020 -- 00:00:09.223 in that portfolio. 00:00:09.223 -- 00:00:14.591 Got it. Thanks. And then, you know, maybe as a follow-up here, you know, the tightness 00:00:14.591 -- 00:00:17.392 in the tax equity 00:00:21.340 -- 00:00:26.805 waiting for treasury clarity, is that translating to any sort of funding opportunity 00:00:26.805 -- 00:00:30.891 for you all where maybe there's a hole in the cap stack and you're able to kind of fill 00:00:30.891 -- 00:00:31.391 it here? 00:00:31.391 -- 00:00:33.391 Thanks. 00:00:34.335 -- 00:00:38.281 I'm going to ask Susan to answer that. I think on, or at least respond to the part about 00:00:38.281 -- 00:00:42.947 the tightness in the market in terms of refilling gaps in the capital stack, that's usually 00:00:42.947 -- 00:00:47.969 not the dynamic. You know, the tax equity obviously serves a specific 00:00:47.969 -- 00:00:53.602 purpose in terms of the tax attributes that it would be hard to substitute traditional 00:00:53.602 -- 00:00:57.086 HACI capital for that tranche. 00:00:57.090 -- 00:00:59.836 But the first part of the question around the tightness of tax equity, I'm going to let 00:00:59.836 -- 00:01:00.598 Susan answer. 00:01:00.598 -- 00:01:03.625 Yeah, thanks. A couple of comments on that. 00:01:03.625 -- 00:01:09.322 One is that Just in terms of tightness, it's important to note 00:01:09.322 -- 00:01:14.868 that the reports from last year is that the tax equity market actually grew 00:01:14.868 -- 00:01:20.874 significantly. Crux is one of the Crux platform tracks from that data. 00:01:20.874 -- 00:01:25.299 And t...