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Reunion, a number one clear vitality finance firm, in the present day introduced that it has collaborated with Summit Ridge Power, the main industrial photo voltaic firm in the US, to promote roughly $40 million of transferable tax credit from a portfolio of neighborhood photo voltaic tasks in Virginia.
The purchaser of those tax credit is a privately held actual property firm.
These tax credit score gross sales have been made attainable by the Inflation Discount Act of 2022 and can instantly allow Summit Ridge to increase its footprint of unpolluted vitality property in deprived communities throughout the US. A number of of the tasks in Summit Ridge’s portfolio are situated in areas that qualify for the IRA’s vitality neighborhood and low-income neighborhood bonus adders.
Adam Kuehne, Chief Funding Officer of Summit Ridge Power, stated, “The ability to transfer investment tax credits helps us accelerate our deployment of clean, sustainable energy in many communities across the country.”
Andy Moon, CEO of Reunion, stated, “Our team is proud to partner with Summit Ridge, a leader in supporting the shift to renewable energy. Given the company’s position in community solar, we were able to quickly identify and support a transaction with a taxpayer interested in purchasing tax credits from their clean energy projects.”
Based mostly in Arlington, Virginia, Summit Ridge is an skilled neighborhood photo voltaic developer, working over 100 property all through the Northeast, Mid-Atlantic, and Midwest. By the top of 2024, the corporate will function greater than 600 MW of photo voltaic and 60 MWh of battery storage capability, serving greater than 50,000 residential and industrial prospects.
About Reunion Infrastructure:
Reunion facilitates the acquisition and sale of unpolluted vitality tax credit, and has labored with main companies to buy over $1.5 billion in tax credit from photo voltaic, wind, storage, superior manufacturing, and different clear vitality tasks. Our curated market options billions of {dollars} in prime quality tax credit score alternatives, and our group of unpolluted vitality finance veterans helps consumers and sellers by means of every step of the transaction course of, with a deal with industrial negotiation, due diligence and danger mitigation. To study extra, go to www.reunioninfra.com and obtain our complete handbook on clear vitality tax credit score transfers.
Supply: Reunion Infrastructure
