Peregrine Energy Solutions Signs Agreement to Sell Production Tax Credits from Old Gold Energy Center, LLC

BOULDER, Colo., Aug. 15, 2023 /PRNewswire/ -- Peregrine Energy Solutions LLC ("Peregrine"), an integrated multi-technology clean energy platform with a focus on utility scale energy storage, today announced it has signed an agreement with Greenprint Capital to sell multi-year production tax credits (PTCs) from Old Gold Energy Center, LLC (formerly known as Top of Iowa I), an 80 MW operating wind asset in northern Iowa. The asset was acquired by Peregrine in March this year through a partnership with a global alternative investment manager on behalf of funds it manages.

"In a burgeoning transferability market, we're pleased Greenprint is able to provide an attractive PTC monetization solution for Old Gold," said Reid Strand, Peregrine's Executive Director of Finance.

"We are excited to be able to monetize production tax credits by utilizing the transferability provisions under the Inflation Reduction Act of 2022. We believe the PTC contributions have the potential to provide steady cash flows to the project over the remaining PTC term," said Alice Bray, Director of Asset Management for Peregrine.

"Greenprint Capital is thrilled to partner with Peregrine in acquiring renewable energy tax credits from their wind project," said Peter DeFazio, Managing Director of Greenprint Capital. "Leveraging our expertise in the Inflation Reduction Act, Greenprint successfully secured transferable tax credits, further amplifying our ability to make impactful strides towards a cleaner, greener tomorrow. This collaboration not only underscores our commitment to a sustainable future but also reinforces our dedication to driving the repowering of wind farms nationwide."

The culmination of the Old Gold PTC transaction is the most recent evidence of the company's accelerating growth and activity. Earlier this month, Peregrine announced a strategic partnership with Six Nations of the Grand River Development Corporation. The partnership sets Peregrine's expansion into Canada, where the company plans to develop and manage GWs of projects over the coming years. Earlier this year, Peregrine announced the formation of a joint venture with a funding commitment from a large multi-asset alternative investment firm based in Asia to allow Peregrine to develop greenfield battery energy storage systems in North America.

The Peregrine team seeks to source, develop, build, and manage standalone battery energy storage and renewable energy assets across North America in an effort to unlock value in such assets. Assets developed and managed by Peregrine Energy Solutions benefit from an experienced team of renewable energy veterans who collectively bring over 20 gigawatts of renewable energy and storage facilities development experience.

Peregrine Energy Solutions is an integrated and multi-technology clean energy platform with a focus on utility scale energy storage that was established in 2022 through a partnership between Peregrine Energy Management and a global alternative investment manager with approximately $20 billion of assets. Peregrine is actively developing a 6.4 GW pipeline of energy storage resources and operating renewable generation. Peregrine Energy Solutions is a limited liability company formed in Delaware and headquartered in Boulder, Colorado.

Greenprint Capital exclusively invests in climate-positive solutions, offering capital to industry leaders in energy efficiency, renewables, and sustainable infrastructure. Specializing in renewable energy tax credits, we drive direct investment into eligible projects that yield cost-effective clean energy, generate jobs, and positively impact communities. Learn more at www.greenprintcapital.com.

For Peregrine
Reid Strand:
[email protected]
Mobile: (832)-244-7226

SOURCE Peregrine Energy Solutions