Developer Arevon and Blackstone have secured a $350 million financing package for the 200MW/800MWh Condor BESS in California, set to start operations in Q2 2024. The financing includes a commitment from investment bank Stifel Financial Corp to buy ITCs. Meanwhile, tax equity specialist investor Foss & Company announced a US$118.5 million ITC transferability deal for the Longbow BESS, a 174MW/384MWh, 2.2-hour system owned by Tokyo Gas America. The transferability of ITC was introduced as part of the Inflation Reduction Act to make it easier for a wider range of investors to invest in clean energy projects using tax credits. The report by Crux suggests that the transferability market has grown faster than anyone expected.

Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating







