American Clean Power teams with Crux for tax credit transfers

The partnership with Crux provides American Clean Power Association members with discounts on transferable tax credits transaction fees. (Courtesy: American Clean Power Association)

American Clean Power Association has announced a partnership with sustainable finance technology company Crux to make clean energy tax credit transfers more accessible to the clean energy industry. American Clean Power’s 800-plus member companies will be able to access discounted transaction fees on Crux’s platform.

“Our partnership with Crux will help catalyze accessible funding alternatives for clean energy,” said Jason Grumet, ACP CEO. “By simplifying the ability to monetize tax credits, the industry can invest more effectively and flexibly, bringing more projects, jobs, and investment to communities across the U.S. This collaboration underscores ACP’s commitment to leading innovative solutions that drive the industry forward.”

Crux is changing the way clean energy projects are financed in the United States, starting with transactions for the new transferable clean energy tax credits created by the Inflation Reduction Act. The new transferable tax equity market allows, for the first time, clean energy developers and manufacturers to sell their tax credits to third parties for cash, creating a market mechanism to expand access to capital for clean energy infrastructure, innovative technologies, and advanced manufacturing.

This partnership provides ACP members with discounts on transferable tax credits transaction fees as well as access to programming and insights developed by Crux—such as PowerCasts, white papers, reports, and more.

“Capitalizing on the tremendous growth opportunity for our clean energy sector and maximizing the tax incentives provided by the IRA requires expanding the tax equity investor base,” said Susan Nickey, ACP Board Chair and Chief Client Officer at HASI. “Partnering with Crux provides the industry with critical tools, data, and pricing transparency to build a robust and efficient market for tax credit transfer transactions. I am thrilled to see ACP members gain access to key resources to help accelerate the deployment of clean energy solutions.”

ACP launched the partnership in Minneapolis at CLEANPOWER 2024.

“Crux is thrilled to partner with the American Clean Power Association to offer its organization of the most prominent clean energy policy leaders, industry experts, and companies access to our powerful technology and large network of tax credit buyers,” said Johnson. “We’re looking forward to helping ACP members efficiently finance their clean energy projects in the future.”

Crux’s partnership with ACP aims to boost the emerging transferable tax equity market. To date, Crux has facilitated diverse technology transactions across solar, standalone storage, microgrids, bioenergy and renewable natural gas, and advanced manufacturing, and has more than $8 billion in credits available on its platform.