Latest news with #ITCs
Yahoo
3 days ago
- Business
- Yahoo
Ameresco Generates over $70 Million in Cash Proceeds from Sale of RNG-Related Investment Tax Credits
RNG Tax Credit Sale Underscores Ameresco's Innovation in Clean Energy Finance FRAMINGHAM, Mass., June 02, 2025--(BUSINESS WIRE)--Ameresco, Inc., (NYSE: AMRC), a leading energy solutions provider dedicated to helping customers navigate the energy transition today announced the successful sale of approximately $71 million in Investment Tax Credits (ITCs) generated from three of its landfill-gas-to-renewable natural gas (RNG) projects. These projects, which Ameresco developed, constructed, financed, and currently operates, were placed in service in 2024. This transaction marks Ameresco's third ITC sale to a corporate buyer and its first sale of RNG tax credits under the transferability rules, demonstrating the company's ability to capitalize on clean energy incentives and project financing through multiple means and a diversified pool of lenders and investors. "We are excited to complete our first RNG tax credit sale, which reflects the growing value and market confidence in renewable natural gas as a critical component of the clean energy transition," said Mike Bakas, President of Renewable Fuels at Ameresco. "This milestone builds on our recent success monetizing solar and battery storage tax credits, including our landmark transaction with MassMutual, and demonstrates our ability to leverage a variety of financial structures to unlock value from our energy assets." STX Group served as the exclusive facilitator for Ameresco in this transaction. Ameresco remains committed to advancing sustainable energy solutions and will continue to explore opportunities to monetize its diverse portfolio of energy assets. For more information about Ameresco and its firm, renewable fuel solutions, visit About Ameresco, in 2000, Ameresco, Inc. (NYSE: AMRC) is a leading energy solutions provider dedicated to helping customers reduce costs, enhance resilience, and decarbonize to net zero in the global energy transition. Our comprehensive portfolio includes implementing smart energy efficiency solutions, upgrading aging infrastructure, and developing, constructing, and operating distributed energy resources. As a trusted full-service partner, Ameresco shows the way by reducing energy use and delivering diversified generation solutions to Federal, state and local governments, utilities, educational and healthcare institutions, housing authorities, and commercial and industrial customers. Headquartered in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit About STX GroupSTX Group is a leading global environmental commodity trader and climate solutions provider. For over 25 years, STX has been at the forefront of the global transition toward a low-carbon economy. By leveraging deep expertise in pricing pollution and emissions, STX helps cultivate trust in market-based solutions and accelerates capital flows into projects that make the world a greener place. Its trading and corporate climate solutions empower organizations to meet environmental goals with certified proof points and measurable impact. With a strong presence in the U.S.—including offices in New York and Houston—STX combines global reach with local expertise to connect participants across the full environmental commodity value chain. For more information, please visit View source version on Contacts Media Contact: Ameresco: Leila Dillon, 508-661-2264, news@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Wire
3 days ago
- Business
- Business Wire
Ameresco Generates over $70 Million in Cash Proceeds from Sale of RNG-Related Investment Tax Credits
FRAMINGHAM, Mass.--(BUSINESS WIRE)-- Ameresco, Inc., (NYSE: AMRC), a leading energy solutions provider dedicated to helping customers navigate the energy transition today announced the successful sale of approximately $71 million in Investment Tax Credits (ITCs) generated from three of its landfill-gas-to-renewable natural gas (RNG) projects. These projects, which Ameresco developed, constructed, financed, and currently operates, were placed in service in 2024. This transaction marks Ameresco's third ITC sale to a corporate buyer and its first sale of RNG tax credits under the transferability rules, demonstrating the company's ability to capitalize on clean energy incentives and project financing through multiple means and a diversified pool of lenders and investors. 'We are excited to complete our first RNG tax credit sale, which reflects the growing value and market confidence in renewable natural gas as a critical component of the clean energy transition,' said Mike Bakas, President of Renewable Fuels at Ameresco. 'This milestone builds on our recent success monetizing solar and battery storage tax credits, including our landmark transaction with MassMutual, and demonstrates our ability to leverage a variety of financial structures to unlock value from our energy assets.' STX Group served as the exclusive facilitator for Ameresco in this transaction. Ameresco remains committed to advancing sustainable energy solutions and will continue to explore opportunities to monetize its diverse portfolio of energy assets. For more information about Ameresco and its firm, renewable fuel solutions, visit About Ameresco, Inc. Founded in 2000, Ameresco, Inc. (NYSE: AMRC) is a leading energy solutions provider dedicated to helping customers reduce costs, enhance resilience, and decarbonize to net zero in the global energy transition. Our comprehensive portfolio includes implementing smart energy efficiency solutions, upgrading aging infrastructure, and developing, constructing, and operating distributed energy resources. As a trusted full-service partner, Ameresco shows the way by reducing energy use and delivering diversified generation solutions to Federal, state and local governments, utilities, educational and healthcare institutions, housing authorities, and commercial and industrial customers. Headquartered in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit About STX Group STX Group is a leading global environmental commodity trader and climate solutions provider. For over 25 years, STX has been at the forefront of the global transition toward a low-carbon economy. By leveraging deep expertise in pricing pollution and emissions, STX helps cultivate trust in market-based solutions and accelerates capital flows into projects that make the world a greener place. Its trading and corporate climate solutions empower organizations to meet environmental goals with certified proof points and measurable impact. With a strong presence in the U.S.—including offices in New York and Houston—STX combines global reach with local expertise to connect participants across the full environmental commodity value chain. For more information, please visit
Canada Standard
7 days ago
- Business
- Canada Standard
4 Climate Actions for the Carney Government's First 100 Days
The dust has settled on a unique federal election, and Canada has a new government led by Prime Minister Mark Carney, backed by a fresh mandate from the voters. While the election was rightly dominated by how to deal with threats of American economic aggression, climate and energy issues played an important supporting role in the campaign. In fact, the new government was elected on a strong platform for climate action that buttresses affordability, security, and competitiveness in a world shaken by these new uncertainties. Meeting this economic moment will require building on Canada's strengths and policy successes, as well as working together with provinces and territories. With that in mind, here are our suggestions for top priorities in the new government's first 100 days. First, strengthen industrial carbon pricing. Industrial carbon pricing is Canada's single most powerful policy tool for reducing emissions and protecting industrial competitiveness, all at minimal cost to households. But it needs improvement. The Canadian Climate Institute's extensive research on these systems shows they can reduce more emissions and give investors greater certainty if they are modernized to be more stringent, more transparent, and better aligned across the country. View our latest digests The federal government has a crucial role to play in these efforts because it writes the minimum standards that underpin provincial systems across the country. It's time those standards were updated. Second, finalize methane regulations for oil and gas. Cutting methane emissions-a particularly potent greenhouse gas-is a good news story. We know how to reduce these emissions that are released in oil and gas production and pipeline transport, and doing so is cost-effective. In fact, Saskatchewan, Alberta, and British Columbia have already slashed these powerful emissions by more than half in less than a decade. The last federal government almost finished this work with draft regulations released last summer that would require methane emissions associated with oil and gas to drop 75% by to shared federal-provincial action, the oil and gas sector is already well on its way to meeting this target. Our modelling has shown that Canada can go even further to reach 80%-and the government should consider doing so. Some provinces have already taken steps towards stronger action. British Columbia, for example, has committed to near zero methane from all industrial activities by 2035. Third, finalize the Clean Electricity Investment Tax Credit (ITC). Electrifying Canada's economy with clean power will underpin the country's success in reducing national emissions and attracting investment. That means a big buildout of intra- and inter-provincial electricity infrastructure, but it will also require investment incentives like the ITCs. While the other federal ITCs were put into law last summer, the Clean Electricity ITC is still pending. Finalizing this long-promised policy will benefit all provinces and territories as they clean up their grids with billions in new investment support, all of which will ultimately help keep energy bills down. The Clean Electricity ITC is also the only one of its kind to make tax-exempt entities eligible, which will create incentives for investors including First Nations, municipalities, and pension funds. Finally, establish a made-in-Canada climate taxonomy for the financial sector. Investment decisions are being shaped by climate change more than ever before, whether from disrupted supply chains, higher costs from more frequent and severe climate impacts, or rapid shifts in clean energy and technology costs. A national climate taxonomy-a well-defined set of criteria to determine which activities and assets contribute to climate objectives-will give investors the standardized approach they need to evaluate these material risks and opportunities against their bottom line. This type of policy is already in place or under development in more than 30 jurisdictions around the world. Ultimately, a climate taxonomy will enhance our country's ability to attract investment. The federal government endorsed the approach recommended by Canada's largest financial institutions last fall, which included a world-leading framework to classify emissions-intensive activities on the path to net zero. The next step is to establish an independent body with stable funding to deliver this much-needed market guidance. Taken together, these four actions will help build on previous policy wins that have driven national emissions down to where they were in the 1990s-more than 8% below 2005 levels at last count. There is still significant work ahead to set Canada up for success in a world economy rapidly adjusting to new trade disruptions while the inevitable shift towards clean energy technologies continues to gather pace globally. While combatting climate change is a multi-decade endeavour, there is much that Canada can do right away. The next hundred days is plenty of time to implement the four actions we believe should sit atop the list of the new government's climate priorities. This post from the Canadian Climate Institute's 440 Megatonnes blog was published under Creative Commons licence. It originally appeared on Corporate Knights. Source: The Energy Mix
Yahoo
28-05-2025
- Business
- Yahoo
Ormat signs hybrid tax equity partnership with Morgan Stanley Renewables
Geothermal and renewable energy company Ormat Technologies has signed a $62m hybrid tax equity partnership with Morgan Stanley Renewables for two energy storage facilities: the Lower Rio 60MW/120 megawatt hours (MWh) facility in the US state of Texas and the Arrowleaf 35MW/140MWh storage and 42MW solar project in California. Both will be commercially operational by the end of 2025. Ormat Technologies chief executive officer Doron Blachar stated: 'This hybrid tax equity partnership is the first of its kind for our energy storage portfolio and highlights the innovative efforts we are taking to optimise the projects' economics and the company's profitability to ensure that we have the funding we need to support our long-term growth, while simultaneously helping advance our explicit goal of monetising $160 million of tax benefits this year [2025]. 'By continuing to effectively monetise the benefits of ITCs for our growing energy storage project portfolio through 2026, we are strengthening our ability to further invest in our development pipeline and ensure that we remain well-positioned to support the growing demand for energy storage projects.' Ormat was represented in the deal by Sheppard Mullin Richter & Hampton. Morgan Stanley Renewables Inc had representation from Willkie Farr & Gallagher. The company specialises in the ownership, operation, design, manufacture and sale of geothermal and recovered energy generation (REG) power plants. These plants primarily utilise the Ormat energy converter, a unit that transforms low, medium and high-temperature heat into electricity. The company has engineered, manufactured, and constructed power plants with a total gross capacity of 3.4GW, which it either owns or has installed for utilities and developers around the world. Building on its expertise in the geothermal and REG sectors, Ormat has expanded its operations to include energy storage services, solar photovoltaic (PV) systems, and combined energy storage with solar PV. The company's current total generating portfolio stands at 1,538MW. This includes a geothermal and solar generation portfolio of 1,248MW, distributed across Guadeloupe, Guatemala, Honduras, Indonesia and Kenya, and a 290MW energy storage portfolio located in the US. In February 2025, Ormat Technologies secured two 15-year tolling agreements for energy storage facilities in Israel. The projects will be developed in partnership with Allied Infrastructure, a multi-disciplinary specialist contractor. "Ormat signs hybrid tax equity partnership with Morgan Stanley Renewables" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
27-05-2025
- Business
- Yahoo
Lightstar Stands with America's Farming Families to Defend Rural Property Rights, Agricultural Resilience, and American Energy Independence.
Call Congress today and tell your Senators to keep America's farming families strong and rural communities resilient by preserving the investment tax credits. BOSTON, May 27, 2025 /PRNewswire/ -- Lightstar reaffirms its unwavering commitment to America's farming families as federal proposals threaten to undermine a vital farm viability and succession planning tool for America's farmers – the long-standing technology neutral investment tax credit (ITC). Recent language passed by the House on Thursday May 22, including a 60-day construction requirement, would kill hundreds of solar projects, which many farming families rely on for retirement and financial independence. This move jeopardizes the financial stability and future of rural communities across the nation, undermining a proven model that supports productive agriculture and energy independence. "Our farmers rely on the financial stability of solar projects to keep their land productive, diversify their income, and future-proof their businesses against growing economic uncertainties," said Lucy Bullock-Sieger, Chief Strategy Officer at Lightstar. "Stripping the ITCs away is more than policy change. It's a direct threat to American livelihoods, our food system, and energy security. Lightstar stands united with our landowners across the country — do not jeopardize their futures." For years, the ITCs have empowered family farms to adopt agrivoltaics, a dual-use agricultural-solar model that allows continued farming while generating local renewable energy. This innovation enables farmers to steward their land, weather unpredictable markets, and support new generations in farming, all while delivering over $600 billion in private investment and supporting 270,000 jobs nationwide. The ITCs have a demonstrated 400% return, projected to expand the U.S. economy by $1.9 trillion over the next decade, according to the American Clean Power Association. Tom Brown, CEO of Lightstar, emphasized, "If the United States wants to ensure a secure American energy pipeline – the Senate must safeguard current solar investments which have already drawn down significant capital expenses. Abruptly cutting off the investment tax credits undermines the stability of a high-performing industry, jeopardizing hundreds of thousands of jobs and billions in private investment." Lightstar's mission is rooted in supporting rural property rights, fostering long-term partnerships, and promoting responsible land use. Lightstar is committed to designing solar projects that operate in harmony with agricultural activity, ensuring that land remains in agricultural operation through innovative agrivoltaics. Without the investment tax credit these projects cannot move forward. "The Senate must act to protect responsible solar and block the House ITC provisions," added Bullock-Sieger. "Canceling the investment tax credit in 2025 means canceling the futures of thousands of farming families and jeopardizing our energy security as a nation. We need more food and energy, not less – and farming families should be able to deliver both for America." Tell Congress to keep American Energy Incentives in place for America's farmers. Act now! You can support America's farming families, visit: For Farmers:Farmers in Support of American Energy Incentives Add your company to the sign-on letter today to help defend Solar and storage tax credits: For Farming Organizations:Farming Organization Letter - Defend Clean Energy Incentives About LightstarLightstar develops, builds, and operates community solar projects that deliver lasting benefits for landowners, their land, and local communities. With a focus on environmental stewardship and long-term partnerships, Lightstar empowers America's rural families to thrive in a changing world while protecting the legacy and productivity of their land. View original content to download multimedia: SOURCE Lightstar Renewables, LLC
