Virentis Advisors is pleased to announce the closing of several successful tax credit transfer transactions. The transactions involved the transfer of 13 ITC’s totaling over $39 million of Qualified Biogas Property and Combined Heat and Power (CHP) ITC value. These include:
- Food waste to RNG and fertilizer facility whose ITC was sold to an investment grade corporate buyer.
- Dairy manure to RNG facility whose ITC was sold to an investment grade corporate buyer.
- Portfolio of dairy manure to RNG facilities whose ITC’s were sold to a regional bank.
- Portfolio of food processing organic waste to CHP facilities whose ITC’s were sold to a regional bank.
Several projects had domestic content and/or energy community adders included in the closings or will have them included in subsequent closings. Each of the transactions included tax credit insurance support for the sellers’ indemnification to their respective buyer for the full range of ITC sizing scenarios and eventual outcomes.
Virentis is proud to play a part in supporting the energy transition through our role with these projects and we look forward to enabling clients in the bioenergy industry to effectively access the emerging tax credit transfer market for years to come.
Congratulations to each of our clients and everyone involved with these impactful facilities!
About Virentis Advisors
Virentis Advisors is a boutique investment banking firm serving the renewable energy industry with a niche focus on the bioenergy industry. The firm helps clients source institutional equity and debt, and monetize tax credits. Founded in November 2022, Virentis partners have been active in bioenergy since 2008 and collectively have supported over $7 billion of renewable energy projects, $2.18 billion of which have been bioenergy. This includes over $102 million of ITC’s transferred under section 6418 to-date. For more information, please visit www.virentisadvisors.com.