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Portfolio Highlights: Renewable Energy Tax Credits

Portfolio Highlights: Renewable Energy Tax Credits

Empowering a sustainable future with investments in renewable energy.

Since 2008, U.S. Bancorp has committed more than $2.2 billion of renewable energy tax equity to finance over $6.8 billion of renewable energy tax credit projects in the U.S., primarily in the solar energy market and in select opportunities in the wind energy market. We understand customers’ needs and work to identify critical financing solutions to help turn renewable energy concepts into reality.


Borrego Solar Systems

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Photo courtesy of: Borrego Solar Systems, Inc.

Borrego Solar Systems

Borrego Solar Systems Inc., a leading financier, designer and installer of grid-tied commercial and public-sector solar electric power systems, has secured multiple rounds of financing from U.S. Bancorp. The capital has enabled Borrego Solar to install approximately 30 megawatts of solar projects in multiple states for the benefit of power purchasers, including the San Diego Community College District, the San Diego County Water Authority, Madera Community Hospital, Edwards Air Force Base, Santa Clara Country, the City of Easthampton, Massachusetts and the Archdiocese of Newark, New Jersey.


Invenergy Wind North America

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Photo courtesy of: Invenergy

Invenergy Wind North America

Leading clean energy company Invenergy LLC develops, owns, and operates large-scale wind, solar and natural gas-fueled power generation facilities in North America and Europe. Invenergy received renewable energy tax equity financing from U.S. Bancorp to support its 200 megawatt Bishop Hill Wind project (Bishop Hill) in Henry County, Illinois. Completed in 2012, Bishop Hill consists of 133 turbines and is selling all of its power and renewable energy attributes to the Tennessee Valley Authority under a long-term contract. The project will produce enough clean, renewable energy to power approximately 120,000 homes.


Gestamp Wind North America

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Photo courtesy of: Gestamp Wind

Gestamp Wind North America

Gestamp Wind develops, constructs and operates wind farms worldwide. The company has participated in the development, construction, maintenance and operation of wind farms with more than 250 turbines (roughly 460 megawatts) across North America, the Caribbean, Spain, Belgium, Poland, Brazil and Turkey. In 2011, U.S. Bancorp provided tax equity financing for three utility-scale wind projects with Gestamp Wind: Flat Water Wind Farm in Richardson County, Nebraska; Petersburg Wind Farm in Petersburg, Nebraska; and Roth Rock Wind Farm in Garrett County, Maryland. The electricity generated is being sold to the Omaha Public Power District – a publicly owned, business-managed electric utility that serves more customers than any other electric utility in Nebraska – Delmarva Power & Light, Maryland Department of General Services and the University System of Maryland (Maryland’s system of public higher education), respectively.


SolarCity Corporation

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Photo credit: SolarCity

SolarCity Corporation

SolarCity is a national leader in clean energy services – making affordable solar energy available to homeowners, businesses, schools, non-profits and government organizations across the country. SolarCity has more than 30,000 energy projects completed or underway in 12 states, including solar power, energy efficiency and electric vehicle service projects. Through its substantial tax equity commitments, U.S. Bancorp has helped SolarCity develop many of its residential and commercial solar projects. Additionally, U.S. Bancorp and SolarCity announced the creation of a renewable energy tax equity fund to help finance the first segment of Project SolarStrong, SolarCity’s ambitious five-year nationwide initiative to provide existing privatized military housing communities with access to affordable solar power. The initiative will allow military housing developers to save money on energy costs and reallocate those savings toward quality-of-life improvements and enhanced services for military families.


Strata Solar

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Photo courtesy of Strata Solar

Strata Solar

Strata Solar, one of the leading end-to-end utility scale solar farm developers in the country, has secured several rounds of tax equity financing from U.S. Bancorp for the development of clean energy on farmland across North Carolina. Earlier this year, Strata Solar and U.S. Bancorp teamed up to fund the installation of five utility scale solar systems. Each five megawatt solar array will produce approximately 7,400 megawatts of electricity a year, enough to power 616 average homes in the surrounding area. In addition to increased environmental sustainability, North Carolina communities have also benefitted from economic gains and job creation through Strata Solar’s unique workforce development program, which encourages the hiring and training of minorities and veterans.


Sunrun

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Photo credit: Francis Fine Art Photography

Sunrun

Sunrun, one of the nation’s leading home solar companies, invented solar power service, a way for homeowners to go solar without spending thousands of dollars to buy the panels. Sunrun owns, insures and maintains solar panels and installs them on a homeowner's roof. Families pay a low rate for clean energy and fix their electric costs for 20 years. Sunrun partners with over 25 leading local solar installers who together employ more than 3,000 workers. With more than 20,000 customers across ten states, Sunrun installs over $1.5 million in solar systems every day and is the solar service market leader. Through its substantial tax equity commitments, U.S. Bancorp has helped Sunrun finance thousands of residential solar projects around the country in regions including Arizona, California, Colorado, Hawaii, Massachusetts, New Jersey and Pennsylvania.

The Basics of RETCs

RETCs encourage investment in the development, installation and operation of renewable energy technologies that generate electricity. Here's how they work.

A Dedicated Team

Our experienced professionals are experts in RETCs and can help provide project financing to meet a range of needs.

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U.S. Bank and its representatives do not provide tax or legal advice. Each tax and financial situation is unique. Consult your tax and/or legal advisor for advice and information concerning a particular situation.

U.S. Bank is not responsible for and does not guarantee the products, services or performance of its affiliates and third parties.

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