Scale Microgrids Secures Significant Tax Equity Funding for Expansion

December 13, 2024 - 05:14

NEW YORK, December 12, 2024—Scale Microgrids has successfully finalized a substantial tax equity deal with Truist Bank, aimed at bolstering the development of distributed energy resources throughout the United States. This strategic partnership will see Truist Bank contribute a tax equity investment of up to $150 million, which is expected to play a pivotal role in the construction of new microgrid projects.

The funding will enable Scale Microgrids to accelerate its efforts in deploying innovative energy solutions that enhance local energy resilience and sustainability. With the increasing demand for clean energy alternatives, this investment aligns with the broader goals of reducing carbon emissions and promoting renewable energy sources.

Scale Microgrids is poised to leverage this financing to expand its portfolio, create jobs, and contribute to the transition toward a more decentralized and sustainable energy system. This initiative marks a significant step forward in the ongoing evolution of the energy landscape in the U.S.