Foss & Company Achieves Landmark Solar and Battery Energy Storage ITC Credit Transfer in Hawaii

Foss & Company, a prominent player in institutional investments, has announced the successful closing of a crucial Investment Tax Credit (ITC) Credit Transfer in Oahu, Hawaii. This development involves Ho'Ohana, a co-located solar and battery storage initiative created by 174 Power Global. The closing of this transaction marks a significant step in Foss & Company's journey into large-scale renewable energy projects, demonstrating their strong capabilities in tax equity financing.

In a statement, Bryen Alperin, Partner and Managing Director at Foss & Company, emphasized the importance of this transaction in navigating the changing landscape of tax equity and credit transfers. He stated, "This transaction underscores our ability to navigate the evolving tax equity and tax credit transfer landscape while strengthening our role as a trusted partner for developers integrating solar and storage on island grids—an area with unique challenges and opportunities."

Foss & Company has shown a strong commitment to support developers in Hawaii, an area that presents both technical and regulatory challenges due to its isolated grid structure. The co-located design of Ho'Ohana aims to enhance grid stability in the region, aligning with Hawaii's ambitious goals for renewable energy integration. The project’s robust safety profile and long-term warranties for the battery system further elevate confidence among investors when addressing the complexities associated with deploying energy storage in island environments.

Joo Yoon, CEO of 174 Power Global, also voiced enthusiasm regarding the partnership with Foss & Company. “The completion of this tax credit transfer highlights the value of strategic financial partnerships in driving innovative solar and storage projects. We greatly appreciate Foss & Company's expertise and collaborative spirit,” he mentioned, signaling a strong collaborative effort between the two companies for future renewable energy initiatives.

The Significance of the ITC Credit Transfer

The successful closure of the ITC Credit Transfer is a testament to Foss & Company's substantial impact on renewable energy projects in Hawaii. By engaging in this transfer, Foss & Company continues to solidify its role as a leader in tax equity investments, crucial for projects that push forward renewable energies while ensuring compliance with existing regulations and safety standards.

Founded in 1983, Foss & Company has been at the forefront of tax equity investments, deploying over $9 billion into various renewable energy and historic rehabilitation projects across the country. The firm’s extensive experience equips them with the necessary tools to navigate the complexities involved in such large-scale initiatives effectively.

Looking Ahead

Foss & Company intends to build on their recent success by continuing to develop innovative financing solutions that facilitate the growth of clean energy initiatives. By doing so, they not only contribute to the stability of Hawaii's energy grid but also further the goal of a sustainable energy future. With the increasing global shift towards green energy, Foss & Company is well-positioned to lead in this dynamic sector, setting an example for tax equity partnerships that bolster investment in cutting-edge renewable technologies.

As the energy landscape continues to evolve, partnerships like that of Foss & Company and 174 Power Global will be instrumental in fostering the development and integration of renewable energy solutions essential for achieving a cleaner and more resilient energy future.

For further information about Foss & Company and their innovative financial opportunities, visit www.FossandCo.com.