Reunion Partners with Summit Ridge Energy to Facilitate $40 Million Sale of Tax Credits to Fund Community Solar Projects

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Reunion, a number one clear power finance firm, at this time introduced that it has collaborated with Summit Ridge Power, the main business 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 potential by the Inflation Discount Act of 2022 and can instantly allow Summit Ridge to increase its footprint of unpolluted power property in deprived communities throughout the US. A number of of the tasks in Summit Ridge’s portfolio are positioned in areas that qualify for the IRA’s power neighborhood and low-income neighborhood bonus adders.

Adam Kuehne, Chief Funding Officer of Summit Ridge Power, mentioned, “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, mentioned, “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 tip 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 business clients.

About Reunion Infrastructure:

Reunion facilitates the acquisition and sale of unpolluted power tax credit, and has labored with main firms to buy over $1.5 billion in tax credit from photo voltaic, wind, storage, superior manufacturing, and different clear power tasks. Our curated market options billions of {dollars} in top quality tax credit score alternatives, and our crew of unpolluted power finance veterans helps patrons and sellers via every step of the transaction course of, with a give attention to business negotiation, due diligence and threat mitigation. To be taught extra, go to www.reunioninfra.com and obtain our complete handbook on clear power tax credit score transfers.

Supply: Reunion Infrastructure