Aspen Power Closes Inaugural Solar ITC Transfer Deal

Aspen Power has closed on the company’s first solar Investment Tax Credit (ITC) transfer deal. 

The transaction, with private investor Dan Kalafatas, monetized the ITCs generated by five projects located across California and New York.

“This ITC transfer deal is a pivotal milestone for Aspen Power, underscoring our ability to navigate the evolving complexities of solar finance,” says Bill DeLong, CFO of Aspen Power. 

“By leveraging this innovative structure, we not only fortify our existing portfolio but also unlock new pathways for future growth and strategic development. This transaction sets a precedent for how Aspen Power will continue to drive value and innovation in the renewable energy sector.”

The transaction’s structure spans both 2023 and 2024 projects.