Section 45X Advanced Manufacturing Production Tax Credit sales of up to $110 million have been disclosed by Silfab Solar.
To sustain its significant growth efforts in American manufacturing of solar energy components for commercial, utility, and residential applications, Silfab raises further investment capital through the sale of these credits.
“Silfab Solar is a proven manufacturing leader in the United States, especially with our investment in the production of American-made solar cells. The 45X production incentive remains a formidable and necessary tool to bring manufacturing into the United States.”
Said Paolo Maccario, CEO and president of Silfab.
By allowing clean energy producers like Silfab to transfer their tax credits to third parties for prompt payment, the transferable tax credit market creates a potent market mechanism that directs private sector reinvestment into advanced manufacturing and expands capacity to satisfy the rising demand for solar technologies produced in the United States.
“Silfab is deeply committed to the country’s desire for energy independence, which we are achieving through the production of our high-quality, powerful solar modules along with the creation of hundreds of good-paying jobs for Americans.”
Maccario said.
For this transaction, BDO USA acted as the tax credit transfer adviser. The Business Incentives & Tax Credits practice at BDO helps customers create, maintain, and profit from tax credits.
