Clean Energy completes US$29.5 million ITC sale
In the United States (US), Clean Energy Fuels Corporation (Clean Energy) has announced that CE bp Renew Co., LLC, its joint venture with BP Products North America Inc., has finalized the sale of US$29.5 million in investment tax credits (ITC). This marks the third successful ITC transaction, and it completes the sale and monetization of all ITCs tied to its six operating renewable natural gas (RNG) projects.

According to a statement, the US$29.5 million in investment tax credits were generated by four of Clean Energy’s dairy RNG production facilities: Ash Grove Dairy, Marshall Ridge Dairy, VF Renewables, and Tri-Cross Dairy, dairies which are located in key agricultural regions in Minnesota (MN), Iowa (IA), and South Dakota (SD), respectively.
Collectively, these projects can produce up to an estimated 3.9 million (US) gallons of negative carbon-intensity RNG annually to fuel transportation fleets.
This transaction highlights the value of our renewable natural gas development portfolio. As the third successful transaction to fully monetize our RNG projects, it’s a milestone that reflects market confidence and positions Clean Energy for further growth in the clean fuel sector, commented Clay Corbus, SVP and Head of Renewable Fuels at Clean Energy.
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