Clean Energy Fuels sells $30.7M in tax credits, its largest deal ever

Clean Energy Fuels Corp. completed the sale of $30.7 million in federal tax credits. These credits were generated by seven of the company’s renewable natural gas (RNG) production facilities. This marks the company’s fourth and largest such transaction.

A $26 million investment tax credit (ITC) from the South Fork Dairy RNG facility in Texas comprised the majority of the sale. The transaction also included clean fuel production credits from a portfolio of dairy RNG projects.

Certain projects involved in the sale are held in joint ventures with bp and TotalEnergies. The move provides a capital influx to support the company’s business strategy.