Key Capture Unloads 120 MW of US BESS ITCs

• Key Capture Energy LLC has sold investment tax credits for 120 megawatts of battery energy storage systems in New York and Texas, monetising the projects for immediate use. SK E&S's Key Capture is currently constructing 623 megawatts of energy storage with another 9 gigawatts in development.

Key Capture Energy LLC has sold the investment tax credits for 120 megawatts of battery energy storage system projects in New York and Texas. The ITCs were transferred to impact investment firm Enhanced Capital, allowing for the “immediate monetisation” of the energy storage firm. The transaction included two operating projects in Texas’ Williamson County with a combined capacity of 100 megawatts, and a 20-megawatt project in New York’s Erie County. Key Capture is a unit of South Korea’s SK E&S and currently has 623 megawatts of standalone energy storage capacity under construction and operation, as well as an additional 9 gigawatts of projects in its development pipeline across the US.

How Did Key Capture Energy LLC Monetise 120MW of ESS Projects?

• Key Capture Energy LLC was able to monetize its 120 megawatts of ESS projects by transferring the investment tax credits to impact investment firm Enhanced Capital.
• Enhanced Capital was able to purchase and claim the ITCs, resulting in immediate monetization for Key Capture.
• The transaction included two operating projects in the state of Texas with a combined capacity of 100 megawatts and a 20-megawatt project in New York’s Erie County.
• Through this transaction, Key Capture has been able to increase its presence as a leading energy storage provider in the US, with a total of 623 megawatts of standalone energy storage capacity under construction and operation, as well as an additional 9 gigawatts of projects in its development pipeline.
• This transaction has enabled Key Capture to continue to expand its energy storage capabilities and further its mission of providing clean, renewable energy sources to consumers.