Anaergia has announced the entry into a definitive agreement for a sale of US$15.6 million (€14.2 million) of Inflation Reduction Act (IRA) investment tax credits generated by its subsidiary, Rhode Island Bioenergy Facility Holdco.
The investment tax credits for qualified biogas property were generated from the project built by RIBH’s subsidiary in Johnston, Rhode Island.
The ITC Transaction is anticipated to close by January 29, 2024, and is subject to certain customary conditions.
Proceeds will be used for transaction fees, funding of asset-level working capital and debt reserves, and limited distributions to RIBF members, said Anaergia.
Akin Gump Strauss Hauer & Field LLP and Virentis Advisors, LLC are advising RIBH in connection with the ITC Transaction.
Anaergia announces sale of $15.6m IRA tax credits
