Over the last twenty-five years the Meridian Companies have been a market leader in providing innovative tax-advantaged energy credit investment programs for sponsors and investors alike.
Transactions closed by Meridian Clean Fuels (MCF) have provided a number of market firsts:
In 1988, MCF syndicated the first Section 45k (formerly Section 29) synthetic fuel from coal transaction. Subsequently, MCF sponsored and raised equity for other §45k projects and was active in the secondary marketplace.
In 2004, Meridian Clean Fuels closed on the first wind transaction utilizing both debt and tax credit equity at the project level. The following year, MCF closed the first wind fund offering that included three separate projects, combining debt and tax equity with cross-collateralization of the PPAs to secure more favorable debt pricing and terms for the sponsor.
In 2007, Meridian Clean Fuels closed the first wind project in the U.S. market to utilize a pre-paid power purchase agreement.
The following list of tombstones provides a sample of our recent transaction experience: