Altus Power Announces Innovative Tax Partnership, Maximizing Market Efficiency
Altus Power, Inc. Class A (AMPS)
Company Research
Source: Business Wire
STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power (NYSE: AMPS), the largest commercial scale provider of clean electric power, today announced the successful structuring of a groundbreaking tax equity transaction and partnership model with its existing partners. This transaction marks a significant evolution for Altus Power, which maximizes market efficiency and competitiveness in structuring renewable energy project financings.The deal is notable given its innovative structure, which allocates a portion of the investment tax credits (“ITCs”) from recently completed solar projects to an existing partner through a traditional tax equity partnership, consistent with those which Altus has formed in the past. However, in a first-of-its-kind move for Altus Power, the new structure leverages the flexibility created in the Inflation Reduction Act to directly transfer a majority of the ITCs from the tax equity partnership to other partners of Altus Power with significant tax capacity. This hy
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Sec Filings
- 11/20/24 - Form SC
- 11/12/24 - Form 10-Q
- 11/12/24 - Form 8-K
- AMPS's page on the SEC website