Foss & Companysponsor of the institutional mutual fund, says it has terminated the tax equity partnership Birch Creek Energy with an investment of about 130 million dollars. Investment funds Project Beech, a 258 MW DC solar project located in Pecos County, Texas.
This project will reduce 425,000 tons of carbon dioxide emissions each year, which is equivalent to reducing the consumption of 48 million gallons of gasoline or powering more than 53,000 homes with clean energy.
“We are excited to complete this tax-based financing with Foss & Company,” said Max Whitacre, Birch Creek’s Director of Project Finance. “Project Beech is the first project we have implemented that combines strategic load with traditional energy consumption. Completing this financing is a milestone for all of us and opens the door to additional financing opportunities for similar projects in key markets.”