MAYER BROWN FACILITATES $11.1M TAX CREDIT ACQUISITION FOR LEADING GLOBAL ALTERNATIVE ASSET MANAGER

Mayer Brown advised Apollo Global Management Inc., a leading provider of alternative asset management and retirement solutions, on the acquisition of approximately $11.1 million of Inflation Reduction Act (IRA) investment tax credits from OPAL Fuels Inc., a company specializing in renewable natural gas (RNG) and renewable power. This transaction involves the sale of Opal Fuel’s share of investment tax credits (ITCs) related to the Emerald RNG facility, one of the largest landfill RNG facilities in North America. This sale marks one of the first tax credit transactions in the RNG industry following the IRS’s recent correction to the Proposed Regulations concerning ITCs for qualified biogas property. The IRS correction clarified key provisions affecting ITC eligibility, making this transaction a benchmark for future deals in the evolving RNG tax credit landscape.

The team was led by Tax partner JoonBeom Pae and Banking & Finance counsel Chadron Edwards (both NY), and included Tax partner Isaac Maron (Washington DC), as well as Banking & Finance associates Martin Gualino and Menachem Feinblum, and Tax associate Amit Neuman (all NY).

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