United Fund Advisors backs $45M biogas project in San Diego
By Christina Williams, Sustainable Business Oregon
Sustainable Business Oregon
United Fund Advisors LLC of Portland announced Monday they closed a tax credit equity financing deal for a $45 million renewable energy project that will generate power at a wastewater treatment facility in San Diego.
The project includes a methane gas purification facility and the installation of three fuel cells with a combined capacity of 4.5 megawatts.
United Fund Advisors put together the financing using federal New Market Tax Credits and renewable energy Investment Tax Credits. UFA specializes in funding renewable energy and community development projects using tax incentives. U.S. Bancorp was the tax credit equity investor.
The sponsors of the San Diego project, BioFuels Energy LLC and New Energy Capital LLC expect to be competed in 2011.
United Fund Advisors worked with U.S. Bancorp to finance a community wind development in Washington in January.
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