tax equity financing

Nestlé is the sole tax equity investor of the 326MW Stampede solar-plus-storage project and will also acquire the renewable energy attributes from the whole capacity of the solar PV plant.

In related news, Google has signed a strategic long-term agreement with independent power producer Energix Renewables to develop 1.5GW PV.

The corporate world is taking an increased interest in community solar, which can take multiple forms, from tax equity to offtake.

Ørsted has closed a US$680 million tax equity financing with JP Morgan for a solar project, alongside a solar-plus-storage project.

Evergrow has claimed the first tax credit transaction using transferability under the Inflation Reduction Act for a solar plant in Connecticut.

Renewables asset manager Greenbacker Capital Management (GCM) has completed a US$148 million tax equity financing commitment with RBC Community Investment.

Independent power producer (IPP) Energix Renewables has secured US$520 million for six utility scale solar projects that are expected to generate 416MW of electricity.

US solar and wind developer Duke Energy Renewables has received a US$90 million tax equity investment from financial holding company CapitalOne towards the 120MW Jackpot solar PV project in Idaho.

Toronto-based renewables developer Amp Energy has closed on a US$155 million tax equity and debt financing round for its solar-plus-storage portfolio in the US.

Spanish developer Matrix Renewables has signed its first US tax equity financing for two solar and energy storage projects in California.