Oil giant Chevron to invest tax equity in US solar projects

US oil supermajor Chevron will begin making tax equity investments in US solar energy projects this year, just as solar loses the key federal support that had freed it from reliance on such investors.

“Chevron is going to be a new entrant into the tax equity market in 2012,” says Ram Ambatipudi, director of large-scale renewables at Chevron Energy Solutions, a unit of Chevron USA. “We are looking for smaller deals in the 3-20MW range.”

He says the company will initially focus on solar projects, leveraging its experience in project development and engineering, procurement and construction to continue the“meaningful role” Chevron has played in the industry during the last several years.

The company lists about 22MW of solar capacity in its PV portfolio. It also…

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