PATRIOT RENEWABLES is a developer, owner and operator of renewable energy developments in the Northeast. Our parent company CASHMAN has a significant tax appetite exceeding projects in our pipeline.
We have formed Patriot REC as a tax equity sponsor to acquire Investment Tax Credits (ITCs) and Production Tax Credits (PTCs) from other developers. In addition to our own deals, we have closed a number of tax equity flip transactions with third party developers and funds. A general summary of how we structure third party transactions is as follows:
TAX CREDIT PURCHASE
Tax Equity Flip
5 year time based flip with no yield hurdle.
99/1 Split
We purchase 99% of the tax credits.
Maximize cash flow to the Developer
We are interested in the tax credits, NOT the cash flow.
Depreciation Schedule
12 Year Alternative Depreciation Schedule leaves approximately 60% of tax shelter post flip
Documentation
Low transaction costs.