Spotlight Blog: Spencer Tweed

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.

Spencer Tweed joined Foss & Company in December of 2022. As Vice President of Project Finance, Spencer manages the closing and diligence process for renewable energy and sustainability funds. Prior to joining Foss & Company, Spencer worked in project finance for a utility-scale solar developer with a focus on coordinating tax equity and debt. Spencer earned his BA in Real Estate from the University of Wisconsin and earned his MS in Finance from the University of Denver.

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

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

I joined the renewable energy industry in 2016 as an investment banker specializing in project-level M&A and corporate advisory. It was an exciting introduction to a fast-paced industry experiencing rapid growth. My favorite part of the job was working with sponsors to better understand how they were structuring their teams and executing complex strategies to scale and decarbonize the grid. In 2018, I transitioned to the sponsor side, working in project finance. While working for developers, I gained hands-on experience with utility-scale wind, solar and battery energy storage systems (BESS), coordinating the capital stack with lenders and tax equity investors. This foundation provided me with a comprehensive understanding of the financial structures that drive renewable energy projects.

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

I met Bryen Alperin in 2022 and was impressed by Foss & Company’s entrepreneurial culture and its ability to close deals with a small, dynamic team. Foss & Company’s collaborative approach and commitment to innovation in structuring investments resonated with me. I joined Foss & Company two years ago and look forward to contributing to the company’s continued success.

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

I wanted to work in an industry where I could work at the intersection of impact, innovation and finance. The renewable energy industry made sense because I’m able to drive financial returns while contributing to a decarbonized future. I have had a front-row seat to technological advancements and policy implementations that keep the work interesting and rewarding.

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 (IRA) has had far-reaching impacts on the industry. At Foss & Company, we have been busy working through transactions that qualify for the energy community and domestic content adders that increase the value of the Investment Tax Credit (ITC). Further, we’ve been active in transferability, which allows investors to purchase tax credits without participating in a traditional tax equity partnership. These innovations are an example of how the IRA is driving significant investment into clean energy technologies.

Any other insights you would like to add?

The renewable energy industry continues to thrive at the intersection of policy, innovation and finance. Having worked across the spectrum—from investment banking to project development to tax credit investing—I’ve seen firsthand how collaboration among stakeholders can drive progress. At Foss & Company, I’m proud to be part of a team that consistently delivers creative solutions to accelerate the energy transition.

Those interested in learning more about Spencer can contact him at St****@fo*******.com.