Direct investments promote a sustainable future. Make an Impact, leave a Greenprint
Sustainable Investments
Investment Management
Greenprint efficiently manages and deploys investment capital directly into renewable energy projects that result in an optimized balance of Financial Return, Reduced Tax Liability, and Sustainable Impact.
Turnkey Transaction Services include:
Opportunity origination, structuring, and acquisition
Tax Credit Acquisitions
Due diligence and internal memorandum preparation
Tax impact evaluation and GAAP support
Asset management, financial performance reporting
Accounting and Compliance
Low Carbon High Impact Assets
We facilitate direct investments into tax credit eligible and climate positive projects that impact communities by delivering lower cost clean energy and creating jobs.
Products
Greenprint employs a myriad of tax-efficient structures to help project sponsors materialize their vision from NTP to Final Completion
Capital Solutions:
Tax Credit Warehousing
Tax Credit Acquisitions
Passive Preferred Investments
Tax Credits under the Inflation Reduction Act
Welcome to the new era of renewable tax credits. With the passing of the revolutionary Inflation Reduction Act, developers and investors have more ways to monetize tax credits than ever before.
We Are Renewable Energy Tax Credit Experts:
Quantification and Verification:
Greenprint reviews technologies, labor, and supply chain practices to appropriately categorize and quantify tax credit eligibility.
Independently Underwritten:
Greenprint independently determines transaction risks and quantifies the indemnification risks and required credit support.
Compliance Monitoring:
On behalf of tax credit purchasers, we monitor projects for on-going compliance to ensure that tax credit recapture risk is significantly reduced.
Investment Footprint
We work with a broad array of developers seeking capital for their projects
The Greenprint Team
Peter DeFazio has over 15 years of experience in the energy and utilities sector and more than $15 billion in energy transaction experience across a multitude of asset classes. Peter has held senior management roles at several Fortune 500 energy companies in project finance, structured finance, M&A, and wholesale structuring & origination. Peter received a Bachelor of Science degree in Mechanical Engineering from Gonzaga University and an MBA with Finance concentration from the University of Portland.
Antoine Bishara is a CPA and CFA with over 17 years of experience as a finance professional. Since 2013 Antoine has been working in the renewable energy sector where he raised more than $250M in debt financing for hydro, wind and solar projects. Over his career, Antoine has direct transaction experience in over $5BN in transactions including bond issuance, M&A, project finance and foreign exchange. Antoine received his bachelor of commerce degree from the University of British Columbia where he graduated with honors.
Kevin Harty has 15 years of experience with Fintech SaaS & Banking holding senior roles in product implementation and sales management. Since 2016, he has launched three strategies accumulating over $235M in personal loan and annuitized lottery receivables while generating more than $130M in deposits. Kevin is a MERN stack developer with an emphasis on disruptive financial innovation. He is a graduate of the UCSD Coding Boot Camp and holds a B.A. from Villanova University.
Matt Sommer has 20 years of experience in tax, accounting, and finance. His background includes managing corporate taxes for a Fortune 500 Energy company where he developed an expertise in public utilities and renewable energy. Matt holds a Masters of Accounting with a Tax emphasis from Brigham Young University and is a licensed CPA in the State of California
Fernando Diaz has 4 years of renewables and banking experience. Prior to joining Greenprint, Fernando was an Associate at Silicon Valley Bank (SVB) where he executed more than $500 million in debt transactions for the leveraged finance and technology banking group. Fernando received his B.S. in Business Administration from Long Beach State University with a concentration in Finance.
Michael Blaevoet has 7+ years of experience in the energy and utilities sector and >$2 billion in energy transaction experience. Michael has held senior roles at a Fortune 500 utility and a start-up renewable energy finance company in project finance, wholesale structuring and trading/asset management. Michael received a B.S. in Mechanical Engineering from CSU Sacramento and a M.S. in Finance from Saint Mary's College of California.
Weston McCloy is a Certified Public Accountant with 6 years of experience in Accounting and Finance. His background includes roles as an Auditor, Financial Controller, and SPV Manager within the Automotive, Advertising, and Private Investment industries. He earned his B.S. in Accounting from Brigham Young University - Idaho and his Masters of Accounting from the University of Utah.
Sae Joon Kim has over 15 years of experience in accounting and finance. His background include management roles within public accounting, banking, and technologies industries. Prior to joining Greenprint Capital, he was with Tesla, specializing in fund accounting and tax equity partnerships. He earned his B.S. in Accounting and Master of Accountancy degrees from Brigham Young University.
Christy Lam is a recent graduate from Indiana University holding a B.S. in Business with a concentration in Finance and Real Estate. During her time at university, Christy and her colleagues raised $4.2 Million for IU's inaugural real estate private equity fund. Her background in investment management includes internships with Heitman LLC and Hines Interests LP.
Luke Savage has 2 years of experience working in corporate finance and equity capital markets. Prior to joining Greenprint, Luke was an analyst at Goldman Sachs where he managed the reporting of trading portfolios and market transactions for the equities controller division. Luke received his Bachelor of Business Administration from Loyola Marymount University with a concentration in Finance.
Inflation Reduction Act Summarized
The 2022 Inflation Reduction Act of 2022 (IRA) introduces a revolutionary new tax credit structure for clean energy property.
The following summary is provided for informational purposes only, and not to be relied upon. Please consult a tax attorney, or certified public accountant to confirm what your system is eligible for.
Credit Monetization (Direct Pay / Transferability):
Direct-Pay: In certain limited circumstances a taxpayer can elect for direct payment of the tax credit. Importantly, direct payment is only available for an “applicable entity” which includes a tax-exempt entities, a state or political subdivision thereof, the Tennessee Valley Authority, an Indian Tribal Government or any Alaska Native Corporation. In certain cases direct pay is phased out if domestic content requirements are not ascertained. This limited direct pay option is available for tax credits found in Sections 30C, 45(a), 45Q, 45U, 45V 45W, 45X, 45Y, 45Z, 48, 48C and 48E. The limited ability to elect direct pay by only those applicable entities is broadened under certain provisions (specifically Section 45Q, Section 45X, and 45V) for the first five years, opening the option to elect direct pay to a broader array of taxpayers.
Transferability: In certain circumstances, a taxpayer can elect to transfer all or any part of a tax credit to an unrelated taxpayer in exchange for cash. The ability to transfer is available for tax credits found in Sections 30C, 45(a), 45Q, 45U, 45V, 45X, 45Y, 45Z, 48, 48C and 48E.
Tax Credit Carryback and Carryforward: The IRA replaces the current 1-year carryback and 20-year carryforward periods with a 3-year carryback and 22-year carryforward period for the ITC and PTC. This provision applies for taxable years beginning after December 31, 2022.
Minimum Tax: The IRA imposes a 15% corporate alternative minimum tax on any corporation which has an average annual adjusted financial statement income for any consecutive 3-year period in excess of $1 billion. The annual adjusted financial statement income disregards any amounts received under direct pay but is not reduced by depreciation deductions. The ITC and PTC may be applied to reduce up to 75% of the minimum tax in excess of $25,000. This minimum tax applies for taxable years beginning after December 31, 2022.
2022-2055: The IRA will extend, expand, and modify the Section 45 PTC and the Section 38 ITC
Investment Tax Credit (ITC) Extension – Section 48: The IRA will extend the ITC for solar energy property and most other ITC-eligible property until the end of 2024, thereafter refer to Section 48E. Geothermal credit will be extended until 2035. The IRA will expand what is eligible for the ITC, including energy storage technology. ·
The base credit will be 6 percent if prevailing wage and apprenticeship requirements are not met or 30 percent (base credit multiplied by five) if prevailing wage and apprenticeship requirements are met.
Taxpayers will be eligible for an additional 10 percent ITC if certain domestic content requirements are met or if the project is located in an energy community.
Furthermore, there will be a potential 10 percent bonus credit for solar and wind facilities located in low-income communities. The 10 percent bonus will be increased to 20 percent for solar and wind facilities that are part of a qualified low-income residential building project or a low-income economic benefit project. The low-income bonus will be applied for and approved by the applicable secretary with an annual limit of 1.8GWac/year.
Production Tax Credit (PTC) Extension – Section 45: · The IRA will extend the renewable energy PTC until the end of 2024, after which the PTC will transition to technology-neutral. · This credit applies to the production of energy from solar, wind, geothermal, biomass and hydropower and other eligible projects. · The phasedown currently in place for wind energy is removed as of Jan. 1, 2022, permitting onshore and offshore wind projects to take the full value of the PTC for 2022, 2023 and 2024. ·
The base credit will be 0.3 cents per kWh, with a bonus credit of 1.5 cents per kWh (credit multiplied by five) if prevailing wage and apprenticeship requirements are met (with an exception to these requirements for small projects).
Taxpayers will be eligible for a bonus 10 percent PTC if certain domestic content requirements are met (adjusted percentage of generally 40 percent for most projects and 20 percent for offshore wind), or if the project is located in an energy community.
If eligible for both, taxpayers can benefit from both of these percentage increases. ·
2025-2032: The IRA will establish a technology-neutral PTC and ITC, i.e., the Clean Energy production Credit (Section 45Y) and the Clean Energy Investment Tax Credit (Section 48 E).
Technology-Neutral PTC and ITC – Section 45Y and 48E: Beginning in 2025, the traditional ITC and PTC will generally no longer apply. They will be replaced by new technology-neutral credits.
Eligibility for these credits generally requires that the facility’s greenhouse gas (GHG) emissions are no greater than zero.
The 45Y base credit value is 0.3 cents per kWh with a bonus credit (credit multiplied by five) if prevailing wage and apprenticeship requirements are met.
The 48E base credit value is 6 percent with a bonus credit (credit multiplied by five) if prevailing wage and apprenticeship requirements are met.
There will be a potential 10 percent bonus credit for energy communities and when domestic content requirements are met.
The applicable percentages to meet the domestic content requirements increase over time:
The adjusted percentage is 40 percent until 2025, 45 percent in 2025, 50 percent in 2026, and 55 percent after 2026.
The adjusted percentage for offshore wind facilities is 20 percent until 2025, 27.5 percent in 2025, 35 percent in 2026, 45 percent in 2027, and 55 percent after 2027.
These credits phase out in 2032, or when the Secretary of the Treasury determines that the annual GHG emissions are equal to or less than 25 percent of the emissions produced in 2022, whichever is earlier.
find out more at info@greenprintcapital.com