WASHINGTON & SAN FRANCISCO, September 30, 2024 (Newswire.com)
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Today, Jim Kiles and Keenan Hale, Managing Directors of the VAYU™️ Clean Power Reserve (“VAYU™️”), announced the availability of “Community Tax Equity” financing, targeting over 70GW of additional clean power from the redevelopment of existing, underperforming onshore wind farms across the United States. This financing initiative aims to infuse billions in community development dollars into participating regional communities.
This announcement signifies the launch of VAYU™️ financing, enabled by the Inflation Reduction Act of 2022 (“IRA”). VAYU™️ Community Tax Equity aims to bring substantial capital to communities that embrace clean power. Central to VAYU™️’s investments are the advancements in technology, including the application of artificial intelligence to wind farms, a breakthrough pioneered and patented by a team led by Kiles.
“We are moving swiftly to support communities across the U.S. as they transition to clean power,” explained Hale. “We have identified a U.S. wind farm redevelopment capacity of 70GW and anticipate similar advancements and needs in solar and decarbonized/electrified natural gas through 2030.”
“We are thrilled to launch VAYU™️ Community Tax Equity financing to bolster U.S. onshore wind farm capacity and assist communities in their rebuilding efforts,” added Kiles. “Our goal is to collaborate with communities nationwide, driving breakthroughs in all clean power categories.”
About VAYU™️: VAYU™️ is a leading investor in Community Tax Equity solutions, offering a pathway to universal clean power and fostering commitments with tax-exempt community partners.
About Keenan Hale: Known for his value-oriented negotiation skills, Hale (Fmr. Legislative Assistant & Govt. Affairs Executive on Capitol Hill) has led multiple billion-dollar deals, strengthening VAYU™’s alliances with industry leaders. His prudent capital management is key to VAYU’s sustained growth and innovation.
About Jim Kiles: In 2014, the U.S. Department of Energy (DOE) selected Kiles as the founding instructor of DOE’s Energy iCorps program, where he collaborated with top scientists from the National Defense Labs to secure clean power and energy efficiency technologies. These efforts culminated in the launch of VayuAI Corp. and the VAYU™️ Clean Power Reserve (VAYU™️), which focuses on creating better solutions to finance clean power, particularly in wind, solar, and natural gas decarbonization (hydrogen).
For more information, contact info@vayuai.com.
Source: VAYU Clean Power Reserve
Original Story: https://www.newswire.com/news/vayu-clean-power-reserve-launches-billion-clean-power-fund-to-support-22433921
