Greenprint Capital Management and AB CarVal finalize joint venture to support a $2.5 billion tax equity investment pipeline of 2024-2025 renewable energy and storage projects

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Oct 03, 2023, 09:30 ET

NEW YORK, Oct. 3, 2023 /PRNewswire/ -- Greenprint Capital Management, LLC ("Greenprint"), an integrated clean energy and tax credit investment platform with a focus on utility-scale solar photovoltaic and energy storage projects, announced it has signed an agreement with funds managed by AB CarVal to fund Greenprint's tax equity pipeline and renewable energy tax credit warehouse.

The Greenprint Value Investors joint venture will allow Greenprint to bring its portfolio of renewable energy tax credit (RETC) investments, which currently span 37 discreet funds and 16 states, to provide project developers and sponsors access to upwards of $2.5 billion in tax equity capital. This liquidity increases capacity for Greenprint to transact with its current suite of corporate customers and to bring additional clients to market who are seeking tax mitigation strategies through the acquisition of renewable energy tax credits.

Greenprint Value Investors seeks to source and manage tax credit and tax equity investments in sustainable infrastructure across the United States. The joint venture will help facilitate liquidity and much-needed financing for renewable energy developers and tax credit investors alike.

"AB CarVal will provide significant new liquidity for Greenprint to advance our value creation pathways for both developers and tax credit buyers. This capital has the potential to accelerate and streamline our tax equity investment process to support our growing pipeline of high-quality renewable energy and storage projects," said Peter DeFazio, managing director with Greenprint.

"The Greenprint Capital team is a proven partner for AB CarVal, helping us finalize many tax partnerships over the last few years. This new joint venture will provide developers critical last-mile working capital and offer deep diligence expertise to tax credit buyers," said Jerry Keefe, principal with AB CarVal. "We believe the market needs the nimble experience Greenprint provides and this partnership will allow us to finance a diverse range of renewable energy and clean infrastructure assets that require investment tax credit monetization."

Greenprint Capital Media Contact: [email protected]

About Greenprint Capital

Greenprint Capital is an investment and advisory firm specializing in renewable energy tax credit investments. Greenprint is solely dedicated to investing in climate positive solutions, by providing capital to leading companies across the country that share our passion for clean energy and a brighter, greener, tomorrow. Our investments in renewable energy projects provide developers an efficient way to monetize tax credits, while enabling our partners and clients to mitigate their own tax liability. Our client services include comprehensive underwriting, structuring and delivery of verified tax credits. For more information, please visit us at www.GreenprintCapital.com

AB CarVal Media Contact: Anna Lovely, [email protected]

About AB CarVal

AB CarVal is an established global alternative investment manager and part of AllianceBernstein's Private Alternatives business. Since 1987, AB CarVal's team has navigated through ever-changing credit market cycles, opportunistically investing $144 billion in 5,680 transactions across 82 countries. Today, AB CarVal has approximately $17 billion* in assets under management in corporate securities, loan portfolios, structured credit and hard assets. Since 2017, AB CarVal has invested over $4 billion in clean energy. Additional information about AB CarVal may be found at www.abcarval.com.

*As of June 30, 2023. AUM is comprised fee-earning AUM and fee-eligible AUM. Fee-earning AUM includes those assets currently qualified to generate management fees. Fee-eligible AUM includes capital that is committed to an AB CarVal Fund but is currently uncalled or recallable. The number represented here excludes assets under AB CarVal's management that are not generating management fees due to the maturity of the Fund but includes amounts that do not generate management fees solely due to AB CarVal's decision not to charge management fees.

SOURCE AB CarVal