Aspen Energy has closed on the corporate’s first photo voltaic Funding Tax Credit score (ITC) switch deal.
The transaction, with non-public investor Dan Kalafatas, monetized the ITCs generated by 5 tasks positioned throughout California and New York.
“This ITC switch deal is a pivotal milestone for Aspen Energy, underscoring our potential to navigate the evolving complexities of photo voltaic finance,” says Invoice DeLong, CFO of Aspen Energy.
“By leveraging this progressive construction, we not solely fortify our current portfolio but in addition unlock new pathways for future progress and strategic growth. This transaction units a precedent for a way Aspen Energy will proceed to drive worth and innovation within the renewable power sector.”
The transaction’s construction spans each 2023 and 2024 tasks.
