Alberta-based Green Impact Partners on Jan. 2 announced it has executed the final purchase and sale agreement (PSA) for the investment tax credits (ITCs) for GreenGas Colorado, a 360,000 MMBtu per year renewable natural gas (RNG) project located in Weld County, Colorado.

In its third quarter financial report, released in November 2023, GIP announced it had engaged an independent third party to provide an initial assessment of the GreenGas Colorado ITCs available for sale. Based on that independent assessment, the company said it expected to net ITC proceeds of approximately C$32.2 million ($23.8 million). Within the report, GIP also said the company had finalized definitive agreements for the sale of the ITCs to a third party with a closing date that was anticipated to occur in in December 2023.

GIP in November reported that the GreenGas Colorado facilities were fully complete, with all major components commissioned. The company reported that commercial operations were imminent as the local utility worked to complete the final interconnection steps to accept the project’s gas production into the pipeline system. Full run-rate capacity at the RNG project is expected to be achieved this year.

View source version on www.wastedive.com: https://biomassmagazine.com/articles/green-impact-partners-finalizes-sale-of-itcs-for-greengas-colorado