Clean Energy Finalizes $29.5 Million Sale of Renewable Fuel Tax Credits
Clean Energy Fuels announced the completion of a $29.5 million sale of investment tax credits (ITC) through its joint venture, CE bp Renew, formed with BP Products North America Inc. The deal marks the third and final transaction tied to the company’s portfolio of six operating renewable natural gas (RNG) projects.
The credits were generated by four of Clean Energy’s dairy RNG facilities: Ash Grove, Marshall Ridge, VF Renewables, and Tri Cross, located in Minnesota, Iowa, and South Dakota, all in key U.S. agricultural regions. Together, these sites have the capacity to produce an estimated 3.9 million gallons annually of negative carbon-intensity RNG, primarily used to fuel heavy-duty transportation fleets.