NEW YORK – Bracewell LLP represented Advanced Power in its purchase of renewable energy investment tax credits. The credits were made available through the development of rooftop solar facilities offered for sale by a third party. The 2022 Inflation Reduction Act made the transfer of renewable energy tax credits possible.
Advanced Power is a privately owned global developer, manager and owner of modern power infrastructure. The company develops low-carbon and renewable electric generating projects as an independent power producer. Advanced Power’s successes include 11 gigawatts in development or operations in the United States and Europe.
Bracewell lawyers involved in the transactions included:
Partners: Steven J. Lorch and Kate Barrington McGregor
Associates: Shannon L. Baldwin, Benjamin S. Cantor and Gabbie Hindera