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Deriva Energy Pioneers Wind Energy Project with Domestic Content and Energy Community Tax Credits

Author

Slice of Energy Team
August 27, 2024

Key Highlights:

  • Deriva Energy commissions a groundbreaking Pennsylvania wind energy project.

  • Utilizes Domestic Content Bonus Credit and Energy Community Tax Credit Bonus under the IRA.

  • Supports American manufacturing and job creation through innovative transaction structures.

  • North Allegheny Wind represents Deriva's first re-powered wind facility in Pennsylvania.

Source (PR Newswire)

Notable Quote:

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"These incentives play a pivotal role in our long-term investment strategy of driving economic growth, fortifying American manufacturing, and supporting our communities."

Chris Maslanka, Senior Director of Finance at Deriva Energy

Our Take:

Deriva Energy's strategic use of the Domestic Content Bonus Credit and Energy Community Tax Credit Bonus under the Inflation Reduction Act is a clear indication of the company's forward-thinking approach in the renewable energy sector. By repowering the North Allegheny Wind facility and ensuring that key components are sourced domestically, Deriva is not only advancing the energy transition but also reinforcing its commitment to bolstering American manufacturing and supporting local communities. This project serves as a model for future developments, demonstrating how federal incentives can be effectively leveraged to drive both economic and environmental benefits.