Tax Credits
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Schneider Electric has purchased 45X Advanced Manufacturing Production tax credits from solar module manufacturer Silfab Solar through tax credit transfer platform Crux.
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Tax credit transfer fintech company Crux Climate has facilitated the sale of $3.5 million in investment tax credits (ITCs) with enXchange to an undisclosed third party in Oklahoma.
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Tax credit transfer platform Crux Climate has secured a partnership with the American Clean Power Association (ACP), connecting more than 800 CPA members to its platform.
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The US Treasury Department has released the final rules for the transferable tax credits of the Inflation Reduction Act (IRA).
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The Department of Energy (DOE) has awarded $1.93 billion in qualifying advanced energy project tax credit allocations – known as 48C tax credits – to 35 projects focused on renewable manufacturing and greenhouse gas emission reduction.
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Solar manufacturer Maxeon Solar Technologies has filed a patent infringement lawsuit against REC Solar Holdings regarding its PV solar cell technology in Texas.
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Battery storage developer Spearmint Energy has hired four senior executives to its project finance, capital markets, regulatory affairs, and commercial operations teams.
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Origis Energy has closed a $136 million construction financing facility and a conversion-to-term loan from MUFG for its 75MW Rice Creek Solar project in Florida.
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The US offshore wind sector continues to gain momentum with the latest round of regulatory approvals as financiers begin to prep the paperwork to fund these mega projects.
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The Department of Energy (DOE), the US Treasury Department, and the IRS have awarded $4 billion in tax credits to 100 projects across clean manufacturing, critical materials, and industrial decarbonisation.
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Brazil has introduced a bill to incentivize in the use of renewable energy by offering tax benefits on the investment in equipment for generating electrical energy from renewable sources.
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InfraRed Capital Partners has closed its purchase of shares in 2 utility-scale onshore renewables projects from Shell's US subsidiaries, Shell Windenergy and Savion, for $166 million.
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CapturePoint has sold 100% of the 45Q tax credits generated by carbon dioxide (CO2) capture at its Arkalon CO2 facility near Liberal, Kansas to an unnamed buyer in a 12 year agreement.
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Schneider Electric plans to invest $140 million into 2 Tennessee-based power distribution technologies manufacturing plants.
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Law firm Sheppard, Mullin, Richter, & Hampton has hired tax attorney Julie Marion to the energy, infrastructure, and project finance team as partner in Chicago.
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EnCap Energy Transition Fund (ETF) has launched Bildmore, a platform company that invests in minority tax equity stakes in solar, battery storage, and energy transmission projects.
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The former co-founder and chief financial officer of OKRA Finance has been appointed as the head of transactions and finance at renewable energy tax credit marketplace Reunion.
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Battery developer GridStor has closed a tax credit transfer sale with JP Morgan for its 60MW/160MWh Goleta Project, which consists of 44 battery energy storage systems in Santa Barbara, California.
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Canadian power company TransAlta has signed 10-year tax credit transfer agreements for 2 Oklahoma-based wind projects totalling 500MW.
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Chevron New Energies is set to develop a 5MW hydrogen production and solar project on its existing oil field in California's Central Valley.
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Schneider Electric has committed to invest around $80 million in a portfolio of 4 Texas-based clean energy projects through a tax credit transfer agreement with Engie North America.
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When the tax equity market was transformed in 2023 with transferability, it was not only the tax equity market and energy players that were excited about the new credit capabilities. The guidelines released in June 2023 opened the market to any other investors with tax appetites, and tax transfer platforms hope to streamline the process for new investors.
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Arevon Energy, the renewable energy developer, owner, and operator, has reached financial close for the 200MW/800MWh Condor Energy Storage Project.
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Canadian Solar subsidiary Recurrent Energy has closed a $160 million project financing for its 127MW Bayou Galion Solar Project in Louisianna.
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Towards the end of 2023 SoftBank and Ares Management-backed SB Energy Global stole a march on renewable developers across the US when it secured $2.4 billion in financing for solar projects that became the first to qualify for the federal domestic content tax credit bonus.
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The tax equity marketplace was forever changed in 2023 due to the emergence of transferability tax credit deals.
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Clean energy tax credit transfer platform Crux has closed a $18.2 million series A funding led by venture capital firm Andreessen Horowitz.
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The US Treasury Department has released additional guidance on tax credits for electric vehicles (EVs) and associated charging technology, including alternative refueling stations.
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Battery storage developer Key Capture Energy and impact investment firm Enhanced Capital have closed an investment tax credits (ITC) transfer agreement with a third party.
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First Solar, a leading solar manufacturer, has completed two Tax Credit Transfer Agreements (TCTAs) to sell $500 and $200 million in Advanced Manufacturing Production tax credits to financial services company Fiserv.
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