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Trico Building apartment project is nearing completion

BUFFALO, N.Y. — The redevelopment of Buffalo's historic Trico building is getting closer to the finish line.
The old windshield wiper factory will open to tenants later this summer, and on Wednesday, 2 On Your Side was the first station to see what's happening behind those massive windows.
Anyone involved in the Trico Building apartment project will tell you that renovating a historic building is not easy.
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Private Equity Warms Up to Clean-Energy Tax Credits

Private-equity firms are beginning to tap a nascent market for clean-energy tax credits, betting on a boost to returns from helping project developers get better terms for the tradable credits.
For example, EnCap Investments, an energy-focused private-equity firm in Houston, earlier this year formed Bildmore Renewables. The new business backs renewable-energy projects and helps developers sell tax credits they generate. The federal government has long provided tax credits for solar and wind plants as a way to stimulate adoption of renewable energy and reduce costs.
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Manufacturing Facility Redevelopment Underway At 58 Parker Avenue And 164 Garden Street In Poughkeepsie

Institutional investment fund sponsor Foss & Company and environmental nonprofit Scenic Hudson have closed on a former manufacturing facility at 58 Parker Avenue and 164 Garden Street in Poughkeepsie. This historic tax credit project will see an extensive renovation and reinvention for five interconnected Standard Gage manufacturing buildings, which have been vacant since the company’s departure from the area in 2002. Standard Gage was a precision manufacturing company based in Poughkeepsie that specialized in the manufacture of dials and gages in the 20th century. The majority of the company’s manufacturing operations eventually moved to Switzerland, and the spaces that they vacated in Poughkeepsie are unused today. Scenic Hudson is well known for its expertise in land conservation, environmental advocacy, and restoring river access, and will be taking the lead on the conversion of the historic spaces into a modern community hub. Notably, the renovated buildings will be entirely solar-powered, with plans to install solar panels on building rooftops and parking lot canopies. A low-energy heating and cooling system will also be employed across the development, making the project one of the most energy-efficient HTC investments in Foss & Company’s portfolio.
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Mill Power: Where Workers Once Made Bolts of Flannel, a Busy Mixed-Use Complex Hums Away

Architect Eddie Belk, 74 years old and dressed in a well-worn green T-shirt, khaki pants, and a red-and-white North Carolina State University ball cap, looks over what was once an enormous cotton-spinning room at Revolution Mill in Greensboro, North Carolina. It’s an impressive scene: two rows of 14-foot-tall heart-pine columns run down the middle of the expanse, longer than two football fields. Sunlight from the clerestory windows above creates patterns on the polished maple floors. White doors with transom windows on each side of this building and an adjacent one lead to 150 apartments with tall ceilings, recycled-glass countertops, and exposed brick walls. “No matter who I bring in here, they get that smile on their face trying to gather it all in,” he says, noticing my grin. “It’s a wonderful space. I’ll come in here just to spend a minute. Just to enjoy it.”
Decades ago, this space was impressive for different reasons. This was the heart of Revolution Cotton Mills, at one time the largest cotton flannel mill in the world. The spinning room was where hundreds of looms the size of golf carts clattered away, 24 hours a day. Cotton lint filled the air as fans moving along a track, still present on the ceiling, blew debris off the machines. Giant “air washer” units did their best to suck the particles out of the room. Workers, dubbed “lintheads” by those outside the mill communities, would leave their shifts covered in dust. Some came down with brown lung disease caused by inhaling fibers or lost fingers to the rapidly moving looms. Millwork was a dangerous job.
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Transferability ITC deals for 1GWh+ of US battery storage: ‘market has grown faster than anyone expected’

Blackstone and Foss & Company have completed transferability investment tax credit (ITC) deals for BESS projects in California and Texas, a market which has grown “faster than anyone expected” according to tax credit ecosystem Crux.
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Tokyo Gas secures tax equity funding for 174 MW of BESS in Texas

US institutional investment fund sponsor Foss & Company has clinched a deal to become the exclusive provider of tax equity for a 174-MW/384-MWh battery energy storage system (BESS) project in Texas owned by a US unit of Japan's Tokyo Gas Co Ltd (TYO:9531). The financing deal supports Tokyo Gas America's Longbow project in Brazoria County, which is entitled to receive USD 118.5 million (EUR 110.1m) in Investment Tax Credits (ITCs). The scheme was developed by Clean Capital Partners (CCP), Foss & Company said on Monday without disclosing the value of its investment.
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Foss & Company Partners with Tokyo Gas America and Clean Capital Partners on Cutting-edge Battery Energy Storage System

LIVERPOOL, Texas, Feb. 12, 2024 /PRNewswire/ -- Foss & Company, a leading institutional fund sponsor, is proud to announce its role as the exclusive provider of tax equity for the Longbow BESS project, a battery energy storage system (BESS) located in Brazoria County, TX, near Houston. This landmark project represents a significant $118.5 million in Investment Tax Credits (ITCs) and marks Foss & Company's inaugural foray into the Transferability-flip (T-flip) transaction space. Longbow BESS, a standalone BESS project developed by Clean Capital Partners (CCP) with a capacity of 174 MW and 384 MWh, is poised to be a game-changer in the energy storage landscape. As a strategic initiative, Longbow aims to benefit from high volatility and arbitrage potential in the ERCOT-Houston region, with construction commenced in Q1 2024 and a targeted Commercial Operation Date (COD) in the summer of 2024.
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Foss & Company Partners with Tokyo Gas America and Clean Capital Partners on Cutting-edge Battery Energy Storage System

Foss & Company Partners with Tokyo Gas America and Clean Capital Partners on Cutting-edge Battery Energy Storage System. Foss & Company, a leading institutional fund sponsor, is proud to announce its role as the exclusive provider of tax equity for the Longbow BESS project, a battery energy storage system (BESS) located in Brazoria County, TX, near Houston. This landmark project represents a significant $118.5 million in Investment Tax Credits (ITCs) and marks Foss & Company’s inaugural foray into the Transferability-flip (T-flip) transaction space. Longbow BESS, a standalone BESS project developed by Clean Capital Partners (CCP) with a capacity of 174 MW and 384 MWh, is poised to be a game-changer in the energy storage landscape. As a strategic initiative, Longbow aims to benefit from high volatility and arbitrage potential in the ERCOT-Houston region, with construction commenced in Q1 2024 and a targeted Commercial Operation Date (COD) in the summer of 2024.
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Nautilus Solar Energy and Foss & Company Forge 72 Million Tax Equity Partnership for Community Solar Projects

Nautilus Solar Energy, representing its affiliate Nautilus US Power Holdco, LLC (NUPH), a prominent community solar company, has announced a significant $72 million tax equity partnership with Foss & Company, a leading institutional investment fund sponsor. The investment is allocated towards a 62 MW portfolio comprising 16 projects located across Maine, Minnesota, New York, and Maryland. Notably, this collaboration marks the second partnership between the two entities.
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Nautilus inks tax equity deal for 62-MW community solar portfolio

US-based Nautilus Solar Energy LLC has sealed a USD-72-million (EUR 66.1m) tax equity deal with institutional investment fund sponsor Foss & Company to finance the construction of 62 MW of community solar projects across several states. The partnership will provide Nautilus with fresh funds to bankroll a portfolio of 16 projects photovoltaic (PV) projects, the developer said on Wednesday. The deal was made on behalf of the company’s affiliate affiliate Nautilus US Power Holdco LLC. The projects that will benefit from the funding arrangement are located across the states of Maine, Minnesota, New York, and Maryland. All solar farms are expected to become fully operational during the current year and supply power to the Northeast and Midwest regions.
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Nautilus Solar Energy seals US$72 million tax equity deal for 62MW solar portfolio

US community solar company Nautilus Solar Energy has signed a US$72 million tax equity deal with institutional investment management firm Foss & Company for a 62MW solar portfolio. The portfolio consists of 16 projects across the US states of Maine, Minnesota, New York, and Maryland, aiming to provide alternative energy to the Northeast and Midwest regions of the US and are expected to be fully operational in 2024.
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Nautilus Solar, Foss & Company Announce $72M Tax Equity Partnership

Nautilus Solar Energy and Foss & Company have announced a $72 million tax equity partnership, covering a 62 MW portfolio of 16 projects across Maine, Minnesota, New York and Maryland.
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Nautilus Solar Energy and Foss & Company Announce $72 Million Tax Equity Partnership

Nautilus Solar Energy, LLC (“Nautilus”) on behalf of its affiliate Nautilus US Power Holdco, LLC (”NUPH”), a leading community solar company, and Foss & Company, a leading institutional investment fund sponsor, announced a $72 million tax equity partnership. The investment covers a 62 MW portfolio of 16 projects spread across Maine, Minnesota, New York, and Maryland. This is the second partnership between the two companies.
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Nautilus Solar Energy® and Foss & Company Announce $72 Million Tax Equity Partnership

SUMMIT, NJ, January 24, 2024 — Nautilus Solar Energy®, LLC (“Nautilus”) on behalf of its affiliate Nautilus US Power Holdco, LLC (”NUPH”), a leading community solar company, and Foss & Company, a leading institutional investment fund sponsor, announced a $72 million tax equity partnership. The investment covers a 62 MW portfolio of 16 projects spread across Maine, Minnesota, New York, and Maryland. This is the second partnership between the two companies.
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Nautilus Solar Energy® and Foss & Company Announce $72 Million Tax Equity Partnership

SUMMIT, NJ, January 24, 2024 — Nautilus Solar Energy®, LLC ("Nautilus") on behalf of its affiliate Nautilus US Power Holdco, LLC ("NUPH"), a leading community solar company, and Foss & Company, a leading institutional investment fund sponsor, announced a $72 million tax equity partnership. The investment covers a 62 MW portfolio of 16 projects spread across Maine, Minnesota, New York, and Maryland. This is the second partnership between the two companies.
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Transferable Tax Credit Market Intelligence Report 2023

Access unprecedented research on the new clean energy transferable tax credit market, based on $3.5 billion in 2023 transactions. The report includes in-depth market analysis, including average transaction sizes and pricing, trends by technology and credit types, and more. Buyers, sellers, and intermediaries share their motivations and challenges for participating, as well as their expectations for 2024.
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After financing worries, full steam ahead for Wood & Brooks project in Tonawanda

The renovation of a former piano key factory in Tonawanda was well underway before the project secured financing, but now it's now fully funded and on schedule. Developer Michael Wopperer had a few nervous months as construction began at the former Wood & Brooks piano key factory. These worries are in the past. The project has secured financing from Northwest Bank, with Foss & Co. as the historic tax credit investor. Work is well underway, and the building is on schedule to open next year.

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Plus Power raises $1.8 billion to advance construction of five energy storage facilities

Texas-based Plus Power announced financing commitments of $1.8 billion to advance five large-scale battery energy storage projects totaling 2.76 GWh. The company reports that the transactions will support construction and operations of the portfolio and include construction financing, term financing, letters of credit, and tax equity investments, in partnership with 11 leading industry lenders and investors. The recent financing includes $707 million for the 250 MW Sierra Estrella Energy Storage facility in Avondale, Arizona, which is expected to be the largest standalone battery facility in Arizona once online. This financing is in addition to initial funding of $903 million.
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Woodlands-based Plus Power LLC lands nearly $2B in battery storage financing

The Woodlands-based Plus Power LLC has secured $1.8 billion in financing for battery storage projects under development in Texas and Arizona.

Plus Power said Oct. 17 that the financing would support both construction and operation of five projects totaling 1,040 megawatts, or 2,760 megawatt-hours. Eleven industry lenders and investors contributed to the financing.

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Major leap forward for standalone battery energy storage, as sector leader Plus Power raises additional $1.8 billion to help incorporate renewables and stabilize the power grid

Plus Power LLC announced completion of $1.8 billion in new financing for standalone battery storage, including the largest single such project financing to date, to help stabilize the U.S. electrical grid while incorporating more solar and wind energy.
The company, which leads the sector for developing, owning, and operating standalone energy storage wherever on the grid it is most needed, will use the capital to fund the construction and operations of five projects. Plus Power has a rapidly growing portfolio of large-scale lithium-ion battery systems in more than 25 states and Canada, and the company is executing on 10 gigawatts of interconnection capacity now in transmission interconnection queues.
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Proportional Amortization Applicable to Renewable Energy Tax Credit Investments

Thanks in large part to the passage of the Inflation Reduction Act last year, renewable energy deployment is poised for a record year in 2023. Fueling this wave of renewable energy projects is the monetization of tax credits provided by tax equity investors through tax equity investments.
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New Project Media (NPM) Interconnections Podcast

Bryen Alperin, partner and managing director of tax credit specialist Foss & Co. joins the podcast this week to discuss the intersection of community solar and tax credits. Alperin reviews financing options for the asset class prior to the Inflation Reduction Act and discusses how conditions have evolved into today’s environment where transferability and other measures are expected to accelerate development.
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Foss & Company Launches Pioneering Battery Energy Storage Investment Platform

Foss & Company launches pioneering battery energy storage investment platform. Foss & Company, a leading institutional investment fund sponsor, is proud to introduce its groundbreaking Standalone Battery Storage Investment Division, poised to reshape the energy landscape. This strategic move not only marks a significant milestone in the company’s journey but also reinforces its commitment to sustainable energy solutions and cutting-edge investments.
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Foss & Company launches Standalone Battery Storage Investment Division

Leading institutional investment fund sponsor, Foss & Company on Wednesday (September 13) unveiled its Standalone Battery Storage Investment division aimed at supporting investments in sustainable energy solutions. Acknowledging the significance of battery energy storage system in integrating more renewable energy onto the grid and for stabilizing the grid, the company intends to fuel further investment in environmentally and socially beneficial projects. Foss & Company has invested more than $200 million in a 300MW / 600MWh standalone battery energy storage project which marks the company's largest investment into a single asset to date.
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Tax credit specialist Foss & Company eyes $3 billion energy storage investments by 2028

A dedicated energy storage investment division has been launched by Foss & Company, an investment and investment services firm which specialises in tax credit transactions, with US$3 billion targeted by 2028. The company announced the launch of its Standalone Battery Storage Investment Division yesterday (13 September). Although it didn’t specify, the company is based in the US and standalone energy storage in the country is now eligible for the investment tax credit (ITC), which before the Inflation Reduction Act only applied to power plants with generation.
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Foss & Company Launches Pioneering Battery Energy Storage Investment Platform

Foss & Company, a leading institutional investment fund sponsor, is proud to introduce its groundbreaking Standalone Battery Storage Investment Division, poised to reshape the energy landscape. This strategic move not only marks a significant milestone in the company's journey but also reinforces its commitment to sustainable energy solutions and cutting-edge investments.
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Foss & Co partners with Aspen on $60m tax credit

Foss & Company, a leading institutional investment fund sponsor, along with Aspen Power, a distributed generation platform with the mission of accelerating and democratizing decarbonization, announced a $60 milliontax equity deployment into 27 solar projects across four states. Since their partnership began in 2021, Foss & Company and Aspen Power have successfully closed on tax equity funding to receive federal solar investment tax credits (ITCs) for commercial & industrial scale solar projects in New York, New Jersey, Maine, and Georgia.
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Aspen Power and Foss & Company Announce $60 Million Tax Equity Partnership

Foss & Company, a leading institutional investment fund sponsor, along with Aspen Power, a distributed generation platform with the mission of accelerating and democratizing decarbonization, announced a $60 million tax equity deployment into 27 solar projects across four states. Since their partnership began in 2021, Foss & Company and Aspen Power have successfully closed on tax equity funding to receive federal solar investment tax credits (ITCs) for commercial & industrial scale solar projects in New York, New Jersey, Maine, and Georgia.
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Foss & Co partners with Aspen on $60m tax credit

Foss & Company – an institutional investment fund sponsor – and Aspen Power executed a $60 million tax equity deployment for 27 solar projects across New York, New Jersey, Maine, and Georgia

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Aspen Power and Foss & Company Announce $60 Million Tax Equity Partnership

Foss & Company, a leading institutional investment fund sponsor, along with Aspen Power, a distributed generation platform with the mission of accelerating and democratizing decarbonization, announced a $60 milliontax equity deployment into 27 solar projects across four states.
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2023 Nonresidential Development that Best Exemplifies Major Community Impact

Nonprofit developer Self-Help Ventures Fund put the 145,000 square feet Mill House building—a key part of the 43-acre former Revolution Mill textile campus—back into use as mixed use facility featuring commercial offices for small businesses, retail and restaurant space, and 33 mixed-income apartments. HTC investor Foss & Company committed approximately $6.7 million in state HTC equity, thus expecting to create hundreds of jobs.
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New Analysis: Transfer Market Expected to Explode Despite Preference for Tax Equity

While the tax transfer market comes with its downsides and limitation, it is still expected to grow larger than the traditional taxequity market due to the level of expected demand, Andrew Vitelli, Chuck Stanley and Kyle Younker explain in Part II of a series ontransferability.
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Renovation of School, Tobacco Factory, County Jail, Trolley Car Rail Yard Earn Novogradac HTC Awards

Mill House, developed by Self-Help Ventures Fund, turned the 45-acre Revolution Mill textile facility into nearly 60,000 square feet of affordable commercial space for nonprofits and small businesses as well as 33 apartments. HTC investor Foss & Company provided $5.8 million in federal HTC equity. The property is expected to create 315 construction jobs and 323 new permanent jobs.

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Webinar Recap: New Treasury Guidance on Transferability

Key takeaways from the recent webinar on the Treasury’s newly-released guidance on the transferable tax credits. Our expert panel consisted of tax, legal, and energy experts.
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Debunking the Myths About Transferable Tax Credits

As the renewable energy market continues to grow, the popularity of transferable tax credits as a way to fund projects and reduce corporate tax liabilities is on the rise.
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Renewable Energy Tax Credit Equity, Transferability Generate ‘Explosion of Growth’

The introduction of the transferability of federal renewable energy tax credits has been one of the hottest issues of 2023 in clean energy finance.
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Key Takeaways | State of The Tax Equity Market and Post-IRA Sources of Funding

During the McDermott Will & Emory webinar in the Navigating the New Energy Landscape series, McDermott Partners Carl Fleming and Heather Cooper were joined by guest Bryen Alperin, partner and managing director of Foss & Company. They had a lively discussion on the current state of the tax equity market and post-IRA sources of funding.
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Tax Credit Investments The Expert: Paddy O’Brien

Tax Executive’s senior editor, Michael Levin-Epstein, interviewed Foss & Company VP of Investments, Paddy O’Brien, on how tax credit investments play an important role in strategic planning for tax professionals.
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New Green Tax Breaks Are Gradually Becoming Clearer

The big winners, and some losers, are starting to emerge as the Biden administration sets rules for its climate-focused tax-break bonanza. With each decision by the Treasury Department, the future of U.S. clean energy takes shape. The Inflation Reduction Act seeks to cut emissions while creating jobs and building industries. To that end, certain credits are tied to the use of domestically produced equipment.
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Pivot Energy raises $203 million for solar projects

Pivot Energy announced the completion of a financing facility worth $203 million to support a portfolio of solar projects across several states.
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Pivot Energy secures $200 million for DG solar portfolio

US clean energy provider Pivot Energy has closed $203 million in financing from Silicon Valley Bank and Foss & Company to support a multi-state portfolio of distributed generation solar PV plants.  
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Silicon Valley Bank’s first loan post-collapse: 100 MW of community solar

Pivot Energy has announced the closing of a ~$203 million financing facility to support a multi-state portfolio of distributed generation solar projects. Silicon Valley Bank (SVB), a division of First Citizens Bank, will lead the debt facilities and Foss & Company will make the initial tax equity investment. The 100-MWDC portfolio comprises 35 community solar and C&I projects planned to reach commercial operation (COD) between Q2 2023 and Q2 2024.
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Historic Jacob Riis Bathhouse in the Rockaways getting a new life

Once the crown jewel of Jacob Riis Park in the Rockaways, the bathhouse there has seen better days. But a project is underway to restore the building from 1932 to its former glory as the centerpiece of a popular beachfront destination for New Yorkers.
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Tax Credit Insurance Alone Isn’t Enough to Mitigate Risk in Tax Credit Transfer Transactions

The Inflation Reduction Act of 2022 enabled the sale of energy credits, providing owners of renewable energy projects with a new means of raising capital. Large corporations with significant tax liabilities are the primary buyers of these credits, which are also purchased by banks and 'corporates', who are looking for a simple transaction without having to learn about tax credit project aspects. Tax credit insurance is available to underwrite these transactions, although it is not a one-size-fits-all solution, and buyers must still conduct some diligence and ensure they are transacting with trustworthy sellers.
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Tax Credit Insurance Mitigates Risk for Tax Credit Transfers but Due Diligence is Still Necessary

The Inflation Reduction Act of 2022 (IRA) changed almost a century of federal tax law and allowed energy credits to now be sold.  This change provides a new means of raising capital for owners of renewable energy projects that lack the tax appetite to use the federal tax credits their projects generate.
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How tax credits can be used to capitalize on the Green Transition

Tax policy plays a vital role in a company's ESG strategy, and it will become increasingly important as companies try to mitigate their environmental impact through the use of tax credits and incentives.
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Restoration of Historic Jacob Riis Park Bathhouse Receives $48M Financing

CBSK Developers, Brooklyn Bazaar and Aulder Capital closed on $47.5 million in financing for the rehabilitation of the historic bathhouse at Jacob Riis Park in Queens. The large-scale preservation project will restore the 1932 building to its former glory after sitting underutilized for nearly half a century and transform the waterfront into an active hub with new restaurants, a bar, pool, event spaces and 28 hotel rooms. The project is being financed through a $32.5-million construction loan from Procida and a $15-million historic tax credit equity investment from Foss & Company.
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CBSK Developers, Brooklyn Bazaar Close On Financing For $47.5 Million Rehabilitation Of Historic Jacob Riis Park Bathhouse

On Tuesday, March 28, CBSK Developers, Brooklyn Bazaar, and Aulder Capital closed on $47.5 million in financing for the rehabilitation of one of Queens’ most beloved architectural gems – the historic bathhouse at Jacob Riis Park. After sitting underutilized for nearly half a century, the large-scale preservation project will restore the 1932 building to its former glory and transform the waterfront into an active hub with new restaurants, a bar, a pool, event spaces, and 28 hotel rooms. The project is financed through a $32.5 million construction loan from Procida and a $15 million historic tax credit equity investment from Foss & Company.
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Summit Ridge Energy receives additional $67M tax equity commitment with Foss & Company

Summit Ridge Energy (SRE) has secured a $67 million tax equity commitment from investment firm Foss & Company. The partnership will fund more than 50 MWdc of community solar projects in Maine and Illinois.
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Historic Bathhouse at Jacob Riis Park to Be Restored to Its Former Glory as Large Scale Preservation Project Begins

Foss & Company is providing a $15 million historic tax credit equity investment for the rehabilitation project of the Jacob Riis Park bathhouse in Queens, which will be funded by Procida Funding and Advisors with a $32.5 million construction loan to transform the historic bathhouse into an active hub with new restaurants, a bar, a pool, event spaces, and 28 hotel rooms, while preserving the building's landmarked façade, windows, and turrets.
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Developers Close On $47.5M Loan To Renovate The Historic Jacob Riis Park Bathhouse In Rockaway Beach, Queens

A top-down renovation of the historic Jacob Riis Park Bathhouse in Rockaway Beach, Queens will soon begin now that developers have secured more than $47.5 million in construction financing.
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Jacob Riis Park Bathhouse Gets $47.5M in Financing for Reboot

The historic Jacob Riis Park bathhouse, on the western end of the Rockaway Peninsula in Queens, received funding to make a $50 million reboot possible.
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Summit Ridge raises tax equity for 50 MW Maine and Illinois solar portfolio

The $67 million investment utilizes the Inflation Reduction Act’s (IRA) Qualified Advanced Energy Project Credit program. Once guidance for low- and moderate-income community incentives and domestic content requirements program is finalized, the developer expects to expand its partnership with the tax investor to fund additional projects in underserved and traditional energy communities.
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Summit Ridge Energy Nets Tax Equity for Community Solar Projects

Summit Ridge Energy (SRE), a commercial solar company, says it has secured a $67 million tax equity commitment from Foss & Company, an institutional investment fund sponsor.
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Historic Jacob Riis Park bathhouse lands financing for renovations

The development team behind renovations planned for the historic Jacob Riis Park bathhouse, following the extensive damages it suffered during Superstorm Sandy, has landed $47.5 million in financing to move ahead with the project.

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Renewable Energy Finance: Enel, Birch Creek secure tax equity investments from Nestlé and Foss & Co for solar projects in West Texas

Foss & Company has partnered with Birch Creek for a $130mn tax equity investment in the Beech solar project.
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Foss & Co closes tax equity partnership with Birch Creek

Foss & Company has closed on a tax equity partnership with Birch Creek Energy for $130 million of investment.

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Foss & Company is partnering with Birch Creek Energy on approximately $130 million tax equity

Foss & Company, a leading institutional investment fund sponsor, announced today that it has entered into a tax equity partnership with Birch Creek Energy for an investment of approximately $130 million.
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Partners Close Tax Equity Investment for 258 MW Project

Foss & Company, an institutional investment fund sponsor, says it has closed on a tax equity partnership with Birch Creek Energy for approximately $130 million of investment.
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Transferability, or selling tax credits, top of mind at SEIA Finance

The US solar market is eagerly awaiting guidance from the IRS on transferability or the sale of tax credits, which was an anticipated topic of discussion at the recent SEIA Finance, Tax and Buyers Seminar. There is uncertainty causing a slowdown in the tax equity market and pushing some project financing commitments initially scheduled for 2023 out to 2024, according to industry experts such as Bryen Alperin, managing director at Foss & Company.
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#RFANEC Explores Implementing Inflation Reduction Act

Foss & Company's team was represented at the National Ethanol Conference's panel of experts who discussed how the IRA's energy tax incentives, infrastructure grants, and other provisions will be implemented in the years ahead.
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Lehigh Valley airport authority says some of its properties will be evaluated for solar fields

In April 2022, Pivot Energy announced a $190 million financing package to support its projects. The financing round was led by Silicon Valley Bank and Foss & Co., an equity investor.
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Foss & Co, Nautilus Solar form tax equity partnership

Investment fund sponsor Foss & Company has closed on the first tranche of tax equity partnership with Nautilus Solar Energy totalling $42 million.
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Foss & Company Announces Tax Equity Partnership with Nautilus Solar Energy

Foss & Company closed the first tranche of a tax equity partnership with Nautilus Solar Energy, LLC on behalf of Nautilus US Power Holdco, LLC, representing an investment of around $42 million for over 44 MWdc of projects across three states.
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Foss & Company Announces Tax Equity Partnership with Nautilus Solar Energy, LLC

Foss & Company, a prominent institutional investment fund sponsor, has closed the first tranche of tax equity partnership worth approximately $42 million on behalf of its affiliate, Nautilus US Power Holdco, LLC, with Nautilus Solar Energy, LLC, a community solar company, for over 44 MWdc of projects across three states.
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Tax Credit Experts Bolster Sustainability through ESG Investments

Foss & Company has dedicated nearly 40 years to tax credit equity management and presented unique business opportunities for institutional investors.
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Inflation Reduction Act Shines a Bright Light on Renewable Energy, but Guidance is Needed

The renewable energy industry is excited about the enactment of the Inflation Reduction Act of 2022 (IRA)–and rightfully so. The IRA, signed into law Aug. 16, has substantial implications for the tax credit community, especially renewable energy.
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17 Goals Leading the World for Tomorrow: Vision 2045 presents innovative businesses shaping a better future

2022 marks the 30-year milestone since the UNFCCC was adopted. Against a backdrop of rising urgencies, COP27 which will be held in Egypt in November, will bring out businesses that bear the United Nations’ Sustainable Development Goals in their hearts and grab the world’s attention.
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Vision 2045 Summit to be held in parallel with the World Climate Summit in Egypt

Running parallel to the United Nations COP27, the three-day summit, Vision 2045, will take place in Sharm El Sheikh, Egypt from November 7-9, 2022 at the Jaz Mirabel Park Hotel, with the goal of positively impacting the future of our planet through a series of groundbreaking panel discussions in the political, economic and social arenas.
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Adding Up CCS Revenue Streams

The dual financial motive behind ethanol’s move into CCS helps explain how and why producers intend to monetize their vital new role in the carbon sequestration movement.
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ESG Investing: Where It Is Now; Where It’s Headed; What To Do

The expanding awareness and interest in ESG–environmental, social and governance–investing could lead to a seismic increase in investor demand for community development tax incentives, but we are not there yet.
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Foss & Company And Korea Electric Power Corporation Close On Approximately $50 Million Tax Equity Partnership For 60 MWDC Photovoltaic Power Plant – EQ Mag Pro

Foss & Company, a leading institutional investment fund sponsor, announced today that it closed on a tax equity partnership with Korea Electric Power Corporation (KEPCO).
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Foss & Company And Korea Electric Power Corporation Close On Approximately $50 Million Tax Equity Partnership For 60 MWDC Photovoltaic Power Plant

The power plant will be located in Mangilao, Guam, and aims to provide ongoing, positive economic benefits to the island.
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Breaking It Down: Tax Credit Incentives For Carbon Sequestration

Tax Credit Incentives for Carbon Sequestration: Potentially the Most Impactful U.S. Policy to Battle Climate Change
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ESG is a Banking Trend to Watch

2021 was a record year for environmental, social and governance investments, and the trend shows no sign of slowing down this year. ESG-related concerns are also growing for banks and credit unions.
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Pivot Energy Closes $190 Million Solar Financing

US solar provider Pivot Energy has closed $190 million of debt and tax equity financing to help build a 90 MW portfolio of distributed generation solar projects in the United States.
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Pivot Energy Secures $190M In Funding To Develop US Solar Project Portfolio

US-based Pivot Energy has secured a $190m financing facility to support the development of its multi-state portfolio of distributed generation solar projects. SVB Financial Group subsidiary Silicon Valley Bank will lead the debt facilities while Foss & Company (Foss) has agreed to make the tax equity investment. Pivot Energy’s 90MW portfolio includes 40 solar projects, of which the majority (80%) are community solar projects. The remaining 20% includes commercial and industrial (C&I) power purchase agreements (PPAs).
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Pivot Energy Finalizes Financing To Develop 90 MW Solar Portfolio

Pivot Energy has closed a $190 million financing facility to support a multi-state portfolio of distributed generation solar projects. Silicon Valley Bank (SVB) will lead the debt facilities, and Foss & Co. will make the tax equity investment.
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Tax Equity Finance For Portfolio

Summit Ridge Energy said it secured a $55 million tax equity commitment from investment manager Foss & Company. The partnership will fund a roughly 73 MW portfolio of residential and commercial community solar projects across Illinois, Maryland, and Maine.
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Revitalization Effort in Historic District Supports Rehabilitation of Old Wooden Mill

Foss & Company helps fund project in the city of Thomasville, North Carolina, as the tax credit purchasers. The mill has been restored and renovated into one- and two-bedroom apartment homes with 27 different layouts, conforming to that of the mill itself.
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Summit Ridge Energy And Osaka Gas Reach Solar Milestones In Maine

In partnership with Foss & Company, Summit Ridge Energy announces the completion of the first project in their 200 MW Maine community solar portfolio, a 6.3 MWdc array in Hermon, ME that will serve 850 households and small businesses across the state.
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101 Leading San Francisco Management Consulting Firms And Startups – Boost Your Business

This article showcases our top picks for the best San Francisco based Management Consulting companies. These startups and companies are taking a variety of approaches to innovating the Management Consulting industry, but are all exceptional companies well worth a follow.
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List Of Three Renewable Energy Investors From California

Knowing about the large area and optimal conditions, investors in the field of renewable energy greatly appreciate California…in this article three investors in renewable energy projects based in California will be introduced.
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City Foundry STL Wins Novogradac 2021 Non-Residential Development That Best Exemplifies Major Community Impact

The $217 million redevelopment of City Foundry STL is one of the largest historic redevelopments in the city’s history. The complex will feature a 700-person event space, a theater, grocery store, office space, retail space, restaurants and bars and a new multistory parking garage. In July of 2021, City Foundry STL won the Novogradac HTC Award for Non-Residential Development that Best Exemplifies Major Community Impact.
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Impact Real Estate Podcast With George Barry, President At Foss & Company

On this episode of the Impact Real Estate Podcast, we chat with George Barry, a pioneer of the tax credit market and President at Foss & Company. George takes us back to the 1980s and gives us a necessary lesson of how and why the Tax Reform Act came to be. As a veteran of the space, George also looks into the future and tells us the changes and trends he sees in the tax credit world. It’s the kind of episode we absolutely love here at the Impact Real Estate Podcast.
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‘It’s Really Happening’ – An Exclusive, Behind-The-Scenes Look At The Judson Mill Redevelopment Project

Taking a stroll through Judson Mill, the massive, 35-acre site off Easley Bridge Road that is now under redevelopment, is like touring through Greenville’s past and future at the same time. Foss & Company served as the federal HTC investor, state investor and bridge lender throughout this project.
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Carbon Sequestration Tax Credits: Section 45Q

When the Bipartisan Budget Act of 2018 was passed into law, it expanded the §45Q2 tax credit, an important federal incentive encouraging private investment in the development and use of carbon capture technologies and facilities. Tax credits for the capture and long-term, permanent storage of carbon oxides are intended to generate a competitive financial return and have a positive environmental impact.
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Wall Street’s Trillion-Dollar ESG Club Comes With Huge Tax Perks

Bank of America Corp. sparked a stir in January—and a little envy—with just a few lines of disclosure in its fourth-quarter earnings report. The lender revealed it had slashed its 2020 corporate tax rate to 5.8% from what would have been 21%, thanks to finance work involving environmental, social and governance projects. That didn’t go unnoticed by Bank of America’s competitors. Executives at one large regional bank saw it, and talked to Bryen Alperin, director of renewable energy for tax specialist Foss & Company.
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Summit Ridge Strikes Tax Equity Partnership for 73 MW of Community Solar

US community solar projects specialist Summit Ridge Energy LLC said it has formed a partnership with investment manager Foss & Company Inc to fund residential and commercial solar projects totalling some 73 MW in direct current.
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Solar Leader Summit Ridge Energy Announces Tax Equity Partnership With Foss & Company

Summit Ridge Energy announced that it has secured a $55 million tax equity commitment from investment manager Foss & Company. The partnership will fund approximately 73 MWdc portfolio of residential and commercial community solar projects across Illinois, Maryland and Maine.
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$42 Million Project Underway To Convert 12-Story Historic Building in Downtown Richmond Into Apartments

Construction is underway to convert a 12-story office building in downtown Richmond into 188 apartments. The $42 million project will entail completely renovating the interior of the building at 629 E. Main St. The project is getting federal historic tax credit equity from PNC Bank and state historic tax credit equity and a bridge loan from Foss & Company.
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Historic Babcock Building in Columbia to be Rebuilt After Fire

The Babcock Building, a Foss South Carolina Fund project, will be rebuilt following a recent fire. The historic building will be renovated into 208 one-, two- and three-bedroom apartments on the Columbia skyline.
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NMTCS, HTCS Help Ongoing Transformation of Historic South Carolina Textile Mill

A former textile mill in Greenville, S.C., is being transformed into an 800,000-square-foot multiuse campus in a multiphase development financed with new markets tax credit (NMTC) and historic tax credit (HTC) equity.
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First Look: Inside Optimist Hall

Optimist Hall, a transformative mixed-use development just outside Uptown in the Optimist Park neighborhood, will officially open on Thursday, August 1.
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Grey Mill Apartments, North Carolina

Rehabbed Grey Mill Apartments draw high praise at open house in Hendersonville.
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A Massive Redevelopment Project in a High Profile Site in St Louis’ Midtown Area is on Track to Open in 2020

Foss & Co acted as the investor for the project’s $20 million of Federal Historic Tax Credits, $24 million of MO State Historic Tax Credits, and provided a $29 million bridge loan.
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City Foundry STL

City Foundry STL is the adaptive reuse of the former 15-acre Century Electric Foundry complex in St. Louis. The iconic and historically significant foundry building will be transformed into a dynamic hub of innovation complete with St. Louis’ first true food hall, a curated retail & entertainment experience, and creative offices infused with historic industrial architecture.
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Historic Bailey Power Plant Opens in the Innovation Quarter

The opening of the Bailey Power Plant, a 111,479 square foot historic building redeveloped into innovation, office, entertainment, retail, and congregation space, located in downtown Winston-Salem, was announced today.
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How Does The Tax Reform Bill Affect The Value Of The HTC?

The 10 percent non-historic tax credit is history under the recently passed tax reform act, but perhaps more significant to those in the historic preservation world, the 20 percent historic tax credit (HTC) was retained and altered.
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Reimagine Revolution Mill

Revolution Mill has been reimagined for a new Greensboro. Come discover restaurants, office space, apartments, and events.
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