HASI Expands Board with Appointment of Industry Veterans Laura A. Schulte and Barry E. Welch
HA Sustainable Infrastructure Capital, Inc. (“HASI” or the “Company”), a prominent investor focused on accelerating the clean energy transition through sustainable infrastructure investments, announced today the appointment of two new members to its board of directors: Laura A. Schulte and Barry E. Welch. The appointments are effective as of April 15, 2025, and reflect the Company’s strategic initiative to enhance its board with deep expertise in financial services, corporate governance, and the energy sector.
Following the inclusion of Ms. Schulte and Mr. Welch, HASI’s board will consist of twelve members in total. Ten of those directors, including the two new appointees, are independent, reinforcing HASI’s commitment to sound corporate governance and board oversight. The appointments align with the Company’s long-term vision of managing a dynamic and forward-thinking board capable of navigating the evolving landscape of sustainable finance and energy infrastructure investment.
Ms. Schulte will join both the Audit Committee and the Compensation Committee, bringing her decades of experience in managing risk, overseeing financial operations, and leading talent development across complex financial organizations. Mr. Welch, known for his leadership in energy infrastructure and finance, will serve on the Audit Committee and the Finance and Risk Committee, where his insights into capital markets and strategic growth planning are expected to contribute meaningfully to HASI’s oversight and operational rigor.
Strategic Vision and Leadership Alignment
Jeffrey W. Eckel, Chair of HASI, welcomed the new appointments in a statement that underscored the Company’s expanding role in the transition to a low-carbon economy. “As the scope and scale of HASI’s opportunity in the energy transition continues to grow, it is fitting to add additional financial services and energy industry expertise to our board. We are pleased to welcome Laura and Barry,” said Eckel.
This addition to the board comes at a time when HASI is increasingly seen as a key player in deploying capital to drive sustainable development. The Company specializes in investing in climate solutions across sectors such as renewable energy, energy efficiency, storage, and sustainable infrastructure, and its board composition is being enhanced to match the technical and financial complexity of those sectors.
Laura A. Schulte: A Career Defined by Financial Leadership and Governance
Laura A. Schulte brings to HASI over 30 years of transformative leadership experience in financial services. She has made a career of guiding multi-billion-dollar financial institutions through growth, regulatory complexity, and cultural change. Currently serving as Chair of the Board of Transportation Alliance Bank, a role she assumed after establishing herself as a high-performing executive, Ms. Schulte is a widely respected figure in both commercial banking and financial oversight.
Her board experience spans several industries, including healthcare and real estate, which will lend valuable cross-sector perspective to HASI’s governance discussions. Since 2016, she has been a member of the boards of Novant Health and Grubb Properties, where she has contributed to strategic planning, risk management, and community impact initiatives.
Previously, she served from 2015 to 2021 on the board of State Farm Bank, a subsidiary of State Farm Insurance that was ultimately acquired by U.S. Bank. During her tenure, she played a pivotal role in steering the organization through evolving regulatory and market conditions.
From 1999 to 2014, Ms. Schulte held a succession of executive leadership roles at Wells Fargo, culminating in her position as Executive Vice President and Head of Eastern Community Banking. She was responsible for overseeing thousands of employees and billions in assets, managing operations, compliance, and customer service across a wide geographic area. Her leadership emphasized customer engagement, community investment, and regulatory compliance—three areas of increasing importance to companies like HASI operating at the intersection of finance and sustainability.
Earlier in her career, she was also an executive at Norwest Corporation, where she further developed her skills in banking operations and financial strategy. She holds a Bachelor of Science degree in Accounting from the University of Nebraska at Lincoln and is a graduate of the prestigious Stonier Graduate School of Banking at the University of Pennsylvania, a program designed for senior-level banking professionals.
Barry E. Welch: A Proven Leader in Power and Infrastructure
Barry E. Welch brings to the board a rich background in energy infrastructure, with more than three decades of executive experience in power generation, asset management, and investment leadership. Currently, Mr. Welch serves as Chair of the Board of Onward Energy, a platform that owns and operates a portfolio of natural gas and renewable power generation assets across North America. He is also a board member of Aspen Power, a distributed generation company focused on community and commercial-scale solar energy projects.
Mr. Welch’s background uniquely positions him to offer strategic guidance as HASI scales its investments in clean energy and infrastructure. His experience includes navigating both the operational and financial complexities of power markets, making him an ideal contributor to HASI’s Audit Committee and Finance and Risk Committee.
From 2016 to 2019, he served on the board of TransMontaigne Partners (NYSE: TLP), a logistics and midstream energy company where he contributed to oversight during a period of significant strategic change and eventual acquisition. His experience in public company governance and M&A activity will be particularly relevant as HASI continues to explore new growth avenues, including potential partnerships, acquisitions, and capital structuring.
Between 2004 and 2014, Mr. Welch served as Chief Executive Officer of Atlantic Power Corporation, where he led the company through a decade of expansion and portfolio diversification. During his tenure, Atlantic Power transitioned from a small independent power producer to a publicly traded infrastructure company with assets across North America.
Before Atlantic Power, Mr. Welch spent 15 years at John Hancock Financial Services. There, he rose to the position of Senior Vice President and Head of the Bond & Corporate Finance Group, where he managed billions in energy and infrastructure assets, overseeing credit risk, portfolio strategy, and origination. His background in institutional investment and credit markets adds important expertise to HASI’s board, particularly as the Company structures capital to finance long-duration, asset-based projects.
Mr. Welch earned a Bachelor of Science degree in Mechanical and Aerospace Engineering from Princeton University and later completed an MBA with a concentration in Finance from Boston College. His technical and financial training has consistently informed his work at the intersection of engineering, energy markets, and strategic capital deployment.
A Board Positioned for Growth and Innovation
The addition of Ms. Schulte and Mr. Welch marks another significant step in HASI’s broader governance evolution. With climate finance becoming an increasingly central topic in the capital markets, and with investors demanding more transparency, accountability, and expertise in ESG matters, board composition plays a critical role in signaling a company’s direction.
Both Schulte and Welch bring more than just impressive résumés—they bring decades of experience managing change, leading through uncertainty, and guiding strategic growth. Their backgrounds complement those of existing board members and ensure that HASI is well-equipped to navigate the fast-evolving landscape of sustainable infrastructure investment.
The Company has stated that its long-term growth will depend not only on access to capital and technology but also on a governance framework that can respond to rapidly shifting regulatory environments, stakeholder expectations, and market dynamics. In that context, the appointments reflect more than just an expansion—they reflect strategic foresight.
As HASI continues to expand its portfolio of sustainable assets—ranging from distributed energy resources to large-scale grid infrastructure—the combined knowledge and experience of its board will be crucial in delivering long-term value to shareholders, partners, and the communities it serves.
With these two additions, HASI reiterates its commitment to governance excellence, industry leadership, and accelerating the global transition to clean energy.
