Deriva Energy Announces Its First Energy Project to Close with IRA Bonus Credits

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Aug 22, 2024, 09:07 ET

CHARLOTTE, N.C., Aug. 22, 2024 /PRNewswire/ -- Deriva Energy recently commissioned a Pennsylvania wind energy project utilizing the Domestic Content Bonus Credit and the Energy Community Tax Credit Bonus under the Inflation Reduction Act (IRA). This groundbreaking transaction underscores Deriva's position at the forefront of the renewables industry in advancing new transaction structures designed to both accelerate the energy transition and support American manufacturing and job creation.

"Our team is pleased to advance this project pioneering the Domestic Content and Energy Community Tax Credit adders," said Chris Maslanka, Senior Director of Finance at Deriva Energy. "These incentives play a pivotal role in our long-term investment strategy of driving economic growth, fortifying American manufacturing, and supporting our communities."

North Allegheny Wind, Deriva's first re-powered wind facility in Pennsylvania, represents a major step forward in our mission to deliver efficient energy solutions that empower communities. By leveraging the bonus adders, Deriva is not only enhancing the project's economic viability but also ensuring that key components are sourced from U.S. manufacturers.

For more information about Deriva Energy and our projects, please visit www.derivaenergy.com or contact [email protected].

Deriva Energy

Deriva Energy is an established leader in clean energy, with over 6,000 megawatts of operating assets and over 12,500 MW of assets in development across the U.S. Formerly known as Duke Energy Renewables, Deriva is a portfolio company of Brookfield, one of the world's largest owners and operators of renewable power and climate transition assets. Deriva is headquartered in Charlotte, North Carolina.

Contact:
[email protected]

SOURCE Deriva Energy