Denmark's Orsted wins $680 million JPMorgan backing for U.S. solar and battery projects
Publishing timestamp: 2024-05-23 10:49:41
Summary
Orsted secures $680 million investment from JPMorgan for two energy projects in the U.S., including Eleven Mile Solar in Arizona. The Inflation Reduction Act has spurred clean energy investment by extending tax credits and introducing new incentives. The act allows for the transfer of tax credits to third parties, creating a new pool of potential capital for renewable energy projects. Orsted sees significant opportunities in the U.S. market due to increasing demand and ambitious climate targets from corporations.
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