WARNING: non-SRE, non-ML, non-Puerto-Rico, non-Pittsburgh content!!!
(full disclosure: i'm an investor in basis and my brother is one of the founders so apply your largest grain of salt to my opinions here)
i'm in the camp of "finance and trading is dreary" but "only slightly less dreary than taxes". so why would i be posting news about some company selling a tax credit?
here's what i have come to understand:
. cleaner generation costs money (i knew that part)
. but is unprofitable during and immediately after construction (this is not surprising).
. being able to sell/transfer the tax credit *immediately* puts money in the pockets of the people who just built that cleaner generation capacity,
. which frees them up to immediately build clean generation!
i know, i know, that's not that complicated and is honestly pretty obvious. but i know more about computers than money, so it took me a little while to get it. the equation is just that simple: tax transfers == cleaner electricity == less climate catastrophe.
so i'm excited to see basis just keep putting buyers and sellers together and putting more money in the hands of people who can use it to build more clean generation capacity. i'm really impressed that they keep closing these huge deals, month after month, while they're building a market that can scale this out even further (and to more types of buyers).
Basis Climate is pleased to announce the closing & funding of a ITC tax credit transfer for a multi-megawatt C&I portfolio developed by Wunder.
It was a pleasure working with Daniel Scher, Richard Mauro, Austin Bryan and the Wunder team on this transaction.
