The American Clean Power Association (ACP) has announced a new partnership with sustainable finance technology company Crux to improve access to clean energy tax credit transfers in the clean energy industry. Effective immediately, ACP’s member companies will receive discounted transaction fees on Crux’s platform.
Crux is working to transform the financing landscape for clean energy projects in the USA, starting with transactions involving the new transferable clean energy tax credits introduced by the Inflation Reduction Act (IRA). This new market for transferable tax equity enables clean energy developers and manufacturers to sell their tax credits to third parties for cash, thereby expanding access to capital for clean energy infrastructure, innovative technologies, and advanced manufacturing. Through this partnership, ACP members will benefit from reduced transaction fees on transferable tax credits and gain access to programming and insights provided by Crux.
The collaboration between Crux and ACP aims to support the emerging transferable tax equity market, which is estimated to have attracted $7-9 billion in its first year.
