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.
As the Vice President of Renewable Energy Portfolio Management, Andrew is in charge of all aspects of investment performance, working with sponsors on project compliance and tax credit investors on fund management. Prior to joining Foss & Company, he created a solar investment vehicle and managed its day-to-day operations. For 12 years prior to that he worked with top-tier solar or renewable energy companies, either financing assets or developing premier asset and portfolio management talent and processes globally. He has overseen some of the largest solar and wind farms in North America, as well as solar sites in Chile, Italy, Spain, England, and Canada. His education credentials include an MBA from ESADE in Barcelona, and a BA from UC Santa Barbara.
To learn more about Andrew, read our latest Spotlight blog series installment:
How did you get started in the tax credit investing industry?
In 2006, while working on Wall Street doing CleanTech sell side equity research, I came across an opportunity to develop a financing platform for a residential solar company in San Luis Obispo (SLO), CA. I packed up my Prius and drove from Manhattan to SLO, excited for the new opportunity to help a growing company focused on solar. We had some success developing and implementing home equity loans for solar and the team sold the first SunRun PPA deal, which was effectively a tax equity investment. From there I joined a structured finance desk with a solar developer raising tax equity in 2008. I haven’t looked back!
When did you join Foss & Company and what interested you about the company?
After riding the “solar-coaster” from my first solar job through five other companies, all while sitting at the same desk in SF, I took a sabbatical during the pandemic. Foss & Company enticed me back into the industry in June 2021, with the great opportunity to oversee the renewable energy and sustainable technologies portfolio, which was growing exponentially every quarter. Since January 2009, I had always been actively managing tax equity investments as a managing member, but Foss & Company’s opportunity was to sit on the other side of the desk and oversee the capital Foss deployed into solar and other renewable assets.
What originally interested you about the renewable energy/sustainability industry?
Well, I was a Boy Scout that really enjoyed the outdoors and was always amazed by the natural world, I wanted to work to protect the Earth from an early age which translated to getting an Environmental Studies degree from UC Santa Barbara. This eventually led to policy-related work culminating in some time spent at the Sierra Club working for the Board of Directors. Eventually, I got an MBA and then moved to working on Wall Street and have been working in clean energy ever since!
How has the tax credit investing industry evolved and where do you see it going?
Well, renewable energy tax credits have a fairly long history in the US, and with the passage of the Inflation Reduction Act (IRA), we seem to have a solid ten years of opportunity in front of us. That alone is a big deal, based on the history of tax credits waxing and waning depending on changing political priorities here in the US. So, I say let’s grab the clear opportunity and work to diversify the energy mix in our electrical grid by adding new sources of clean energy.
Any other insights you would like to add?
Tax credits are a great way to invest in proven technologies for discreet periods of time, while Foss & Company does all the heavy lifting of deal diligence, execution and management. Let us be your tax equity investment desk.