Spotlight Blog: Sophie Brkovic

Foss & Company is comprised of a group of experienced tax credit professionals, representing a depth of knowledge within their respective fields. In this blog series, we highlight different Foss & Company team members to shine a light on the diverse and dedicated people that help make us who we are. 

Sophie Brkovic joined Foss & Company as an Associate Vice President of Renewable Energy Project Finance on the Renewable Energy & Sustainable Technologies team. She works to manage all aspects of the transaction lifecycle for renewable energy fund investments. Prior to joining Foss & Company, Sophie served as a Research Analyst for an Energy Infrastructure investment fund where she led financial modeling, equity research and portfolio analysis. She earned her BS in Geological Engineering and MEng in Sustainable Systems Engineering from the University of Wisconsin-Madison.

To learn more about Sophie, read our latest Spotlight blog series installment:

How did you get started in the tax credit investing industry?   

I was first introduced to renewable energy tax credits while working as a wholesale energy market consultant and discussing lifetime project economics with developer clients. During my tenure as a research analyst, I discussed clean energy project economics with numerous developers globally and it became clear to me that tax equity was an important and growing portion of the capital stack. Following the passage of the Inflation Reduction Act (IRA), it was rare to complete a conversation about clean energy development in the United States without the mention of tax credits. As I sought out my next position, I knew that I wanted to be involved in the tax credit market and help distribute tax equity to developers in order to aid in the clean energy transition. Thankfully, I found that position at Foss & Company!

When did you join Foss & Company and what interested you about the company?  

I joined the project finance team at Foss & Company in April of 2024 and am based in Denver, CO. I was first drawn to the company as it had a strong, established reputation in the tax credit market. Following numerous conversations with the team, I was impressed by the entrepreneurial spirit of the firm and the adaptability the company displayed over forty years. Since the IRA passed in 2022, there have been numerous entrants to the tax equity space as investors and syndicators. When examining Foss & Company alongside peers, the expertise and decades of relationships that the company has established in the tax credit community was unmatched. I was excited to work on diverse projects alongside the passionate clean energy team and create innovative solutions to the evolving space.

What originally interested you about the renewable energy/sustainability industry? 

I have been passionate about the renewable energy and sustainability industry since I was in high school when I found out it could be a career path! I love the outdoors and math and found that those skills could pair nicely to work in the expanding renewable energy industry. I was excited that I was entering the workforce during the period of time that a momentous change was occurring; what is now referred to as the “energy transition.” I focused my coursework and professional career on renewable energy to ensure that I could make the largest impact with my skillset.

In my career, I’ve focused on energy efficiency, wholesale market price forecasting, public securities investing in renewable energy companies and now tax credit investing. Throughout all of my previous roles, I’ve found my position at Foss & Company to be the most fulfilling as we match clean energy projects with investors and watch these projects come to life.

Any major changes in the renewable energy tax credit industry that you are excited about or that people should be aware of? 

The Inflation Reduction Act may be over two years old, but we are still experiencing the exciting outcomes of the legislation. Investing in emerging technologies has been increasing with deals occurring for clean manufacturing (45X), clean electricity from biogas or fuel cells (48E), and nuclear tax credits (45U). It may have taken a couple of years to ramp up these projects, but it’s exciting to discuss these emerging opportunities with investors and work on these types of projects while at Foss & Company.

Any other insights you would like to add? 

The tax credit industry is a dynamic and ever-evolving space. Folks may be curious about the state of the market given the impending election. However, now is the most exciting time to join the market! If you’d like to discuss tax credit investing or potential outcomes from the election, reach out to our team.

 

Those interested in learning more about Sophie, can contact her at so****@fo*******.com