IRGAH portfolio (1.4 GW wind+solar, 14 projects, 11 states) — first large-scale IRA transferability deal
BofA as transferability underwriter/placement agent/FA. First large-scale IRA tax credit transfer deal. IRGAH = Invenergy/Blackstone/CDPQ JV.
$580M
Deal Value
1,400MW
Capacity
Solar + Storage
Technology
Multi-state
Location
Deal Details
- Deal Type
- Tax Equity & Tax Credits
- Seller / Sponsor
- Invenergy
- Buyer / Financier
- Bank of America
- Deal Value
- $580M
- Stage
- Unknown
- Source
- Industry Source
Capital Structure
$1.50B
Total transaction value
Tranches
- PTC Tax Credit Transfer · Bank of America Securities (Transferability Underwriter, Placement Agent, Financial Advisor)
- $580M
- Project Finance Debt · Santander (structuring agent), Rabobank, Natixis CIB, Export Development Canada (coordinating lead arrangers); BBVA, CaixaBank, MetLife, NatWest, Societe Generale, ICBC and others
- —
Service Providers
Advisory & Legal
- Sponsor Counsel
- Sheppard Mullin
- Financial Advisor
- BofA Securities
Finance Counterparties
Lenders & Capital Providers
- Tax Credit Buyer
- Bank of America
- Coord. Lead Arranger
- Santander; Rabobank; Natixis; Export Development Canada
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Leadership at the Counterparties
Recent executive moves at the firms named in this deal.
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