tax credit transfer

US thin-film manufacturer First has revealed another transfer of its 45X manufacturing tax credits in a deal worth around US$775 million.

Arevon Energy has finalised US$98 million in tax equity financing for a 265MW portfolio currently under construction in Indiana.

The credits are Section 45X Advanced Manufacturing Production tax credits generated from selling its modules from US manufacturing bases.

Arevon said that the transaction made use of the Inflation Reduction Act’s (IRA) tax credit transferability scheme.

Liquidity is rising at great pace in US tax credit transferability for clean energy, helping lenders become comfortable with the market.

Schneider Electric has invested in a portfolio of ENGIE solar-plus-storage projects in Texas through a Tax Credit Transfer Agreement.