U.S. investor group clinches tax credit deal for $1.5-billion renewable power acquisition

It “creates a financeable transferability product that will be used to scale the growth of renewable energy,” Fang said.

Around $4-trillion will need to be spent on clean energy development globally each year by 2030 to allow the world’s economies to cut greenhouse gas emissions to net zero, meaning no more than can be captured by natural sinks like forests or using technology, the International Energy Agency said. Analysts at investment bank Credit Suisse have estimated the IRA could lead to the generation of tax credits worth $576-billion by 2031.

Treasury Department and Internal Revenue Service published rules on how to regulate tax credit transfers in June, and they are expected to launch an online registry by the end of 2023. Private equity firm Blackstone has invested around $4-billion in Invenergy. Its fellow investors include Canada’s Caisse de dépôt et placement du Québec.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Michael Burry dumps bank stocks, bets against S&P 500 and NasdaqMichael Burry’s hedge fund has dumped most of its bank stocks and made large bets on the poor performance of the stock market in the second half of 2023.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »