An ACCIONA Energía solar project.
Basis Climate has announced the transfer of Production Tax Credits (PTCs) across three transactions on behalf of the renewable energy developer ACCIONA Energía.
The transferred credits were generated by ACCIONA Energía’s Fort Bend, Red-Tailed Hawk, Green Pastures I, and Green Pastures II facilities located in Texas. Fort Bend is a 240-MWAC solar project, while the larger Red-Tailed Hawk is a 350-MWAC solar farm. Green Pastures I and Green Pastures II, two wind farms with combined capacity of 300 MWAC, were acquired by ACCIONA in November 2024. These four projects, alongside three wind farms in Cameron County, and the Cunningham Battery Storage System located in Hunt County, Texas represent the company’s commitment to continued renewable energy investments in the state.
For the Fort Bend and Red-Tailed Hawk projects, ACCIONA Energía engaged Basis to find buyers for the PTCs associated with its Class B interest in each project, outside of an existing tax equity partnership. Additionally, ACCIONA Energía was able to efficiently monetize the Production Tax Credits from Green Pastures I & II wind projects following their acquisition.
“The era of tax credit transferability means many new forms of selling credits are now possible. We look forward to supporting more developers as they evaluate this type of tax credit sale in the future,” said Basis Climate CEO Erik Underwood.
News item from Basis Climate
