EVENSOL sells investment tax credits from NC RNG plants for $34.5M

In Oregon, EVENSOL LLC, a renewable energy project developer focusing on biogas and methane mitigation, announces that it closed an investment tax credit transfer deal earlier this fall on its two North Carolina renewable natural gas projects, totaling a combined $34.5 million.  

The transaction was facilitated by Monarch Private Capital and closed in collaboration with project partners including Energyneering Solutions (ESI) and Pacolet Milliken. Notably, the projects were able to qualify for and include in the transaction the 10-percent ITC adder for domestic content available under IRS Section 48 for qualifying renewable energy projects.

Commissioned in 2023, the two North Carolina RNG facilities convert waste into renewable fuel, providing a beneficial use for large volumes of landfill gas, while creating a valuable renewable energy source for the residents of North Carolina.