In New York, OPAL Fuels announced the sale of $11.1 million worth of Inflation Reduction Act investment tax credits to an Apollo Global Management subsidiary. The credits were generated by the Emerald RNG facility, a joint venture of which OPAL Fuels owns 50%. With a nameplate capacity of 10,000 standard cubic feet per minute, Emerald RNG is one of the largest landfill RNG facilities in North America.
“The sale of IRA tax credits provides OPAL Fuels another source of liquidity to continue funding our strategic growth initiatives,” said Jonathan Maurer, Co-Chief Executive Officer of OPAL Fuels. “We view the IRA as favorable for the renewable energy industry and an important driver of investment across our project pipeline over the next several years.”
This sale marks OPAL Fuels’ first transaction involving IRA tax credits, which were introduced under the Inflation Reduction Act to incentivize renewable energy projects.
Tags: biogas, New York, OPAL Fuels
Category: Fuels
