Foss & Company, an institutional investment fund sponsor, says it has closed on a tax equity partnership with Birch Creek Energy for approximately $130 million of investment. The investment funds Project Beech, a 258 MW DC solar PV project located in Pecos County, Texas.

This project reduces 425,000 metric tons of carbon dioxide emissions being produced each year, the equivalent to removing 48 million gallons of gasoline consumption or the powering of over 53,000 homes using clean energy.

“We are thrilled to complete this tax equity financing with Foss & Company,” says Max Whitacre, EVP of project finance for Birch Creek. “Project Beech is the first project we have completed that pairs strategic load with traditional energy consumption. Completing this financing is a milestone for all of us and opens up the door to additional financing opportunities for projects with similar profiles within key markets.”