Denmark's Orsted wins $680 million JPMorgan backing for U.S. solar and battery projects

Renewable energy developer Orsted announced on Thursday won a $680 million investment from JPMorgan for two of its energy projects, including Eleven Mile Solar near Coolidge, Arizona.

The Inflation Reduction Act has spurred clean energy investment in the U.S. by extending existing tax credits and introducing new incentives, including the ability to sell tax credits on the open market.in two U.S. projects as incentives from the Biden Administration's signature climate law — the Inflation Reduction Act — spur a clean energy boom in the U.S.

The IRA sought to change that by adding in a provision allowing the credits to be transferred to a third party, creating a new pool of potential capital from corporations looking to offset tax bills. The project developer can either sell the credits themselves, or the tax equity partner — in this case JPMorgan — can decide to sell the credits to another party.

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Alaska lawmakers settle on roughly $1,650 Permanent Fund dividend, energy relief amountThe budget also includes $175 million in one-time funding for public schools, roughly equivalent to $680 in base per-student funding.
Source: AKpublicnews - 🏆 387. / 55 Read more »

Alaska lawmakers settle on roughly $1,650 Permanent Fund dividend, energy relief amountThe budget also includes $175 million in one-time funding for public schools, roughly equivalent to $680 in base per-student funding.
Source: KTOOpubmedia - 🏆 439. / 53 Read more »