OPAL Fuels Inc. completed its sale of Inflation Reduction Act (IRA) investment tax credits for $8.9 million. (Source: Shutterstock)
OPAL Fuels Inc. completed its sale of Inflation Reduction Act (IRA) investment tax credits for $8.9 million, according to a March 31 press release.
The credits were generated from the Sapphire RNG facility, a joint venture 50% owned by OPAL.
The sale’s proceeds will contribute to OPAL’s net income and operating cash flow, the company said.
This marks the company’s second IRA tax credit sale, that “supports the decarbonization of heavy-duty trucking, promotes energy security and bolsters the economy with domestically produced fuel options,” said Jonathan Maurer, co-CEO of OPAL Fuels.
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