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plug-power-sells-30m-tax-credit-from-georgia-hydrogen-plant
© Plug Power
plug-power-sells-30m-tax-credit-from-georgia-hydrogen-plant
© Plug Power

Plug Power sells $30m tax credit from Georgia hydrogen plant

The hydrogen firm said it had “boosted its liquidity through the transfer of the Federal Investment Tax Credit (ITC)” to an unnamed major investor “with a strong track record of purchasing comparable credits.”

Under the Inflation Reduction Act (IRA), Plug says its 40MW Woodbine liquid green hydrogen plant is eligible for both the $3/kg offered by section 45V, as well as the 30% ITC to subsidise the project’s CAPEX investment, thanks to the plant’s storage abilities.

However, Plug says it has transferred the $30m awarded through the ITC to an unnamed investor.

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