Crayhill Capital Management, an alternative asset manager specialising in asset-backed finance, has launched a Tax Equity Bridge Lending (TEBL) programme designed to support renewable energy developers in the US.
The new lending solution provides a combination of tax equity bridge loans and development financing for renewable energy projects, which Crayhill says face “unprecedented” construction timeline pressures due to President Trump’s ‘One Big Beautiful Bill Act’.
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Under new US regulations, these types of projects must begin construction by 4 July 2026, or be placed in service by 31 December 2027, to qualify for federal investment tax credits and production tax credits.
According to Crayhill, subsequent executive orders may now require solar, wind and battery projects to demonstrate “substantial portion” completion, “rather than relying on preliminary activities to qualify as having ‘begun construction’”.
Its new TEBL programme provides facilities of between $50m (£36.9m) and $500m to support the pre-construction of solar and wind-power generation facilities.
By offering pre-construction and construction capital against future tax equity commitments and simultaneously providing pre-construction development capital, construction equity, and preferred equity step-up capital, Crayhill said its program allows developers to begin “substantial” construction activities immediately and gives them a “clear path” to close construction financing and monetize tax credits.
The lending solution, which is part of Crayhill’s expanded pre-construction financing initiative, also offers critical equipment procurement assistance.
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“The convergence of mounting regulatory pressure and explosive AI-driven power demand places an unprecedented level of urgency on renewable energy developers,” said Shweta Kapadia, managing director at Crayhill.
“Crayhill has already driven nearly 20GW of new power generation development, and the TEBL program expands our comprehensive financial offerings for developers in need of a single capital partner who can provide the broadest set of financing solutions with speed and certainty.”
Kapadia added that renewables will be crucial for meeting “skyrocketing” US energy demand.
Since its inception in 2015, Crayhill has deployed more than $4bn across over 50 transactions.
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