First Citizens Bank, through its energy finance business, is introducing a new tax equity investment product designed to help finance renewable energy projects.
“This new tax equity investment product allows us to further leverage our expertise in renewable energy finance,” Mike Lorusso, head of energy finance for First Citizens Bank, said. “By expanding our product base to include tax equity investments, we are now even better able to serve our relationship clients with innovative options.”
With the new product, First Citizens aims to address a market shortage of expertise needed to structure and deliver tax equity investments to clients that can benefit from the investment, thereby increasing the financing available to drive renewable energy project development. First Citizens Energy Finance intends to focus its tax equity investment product primarily in support of financing solar, wind and battery energy storage projects.
