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Foss & Company launches $3bn storage tax equity investment platform

September 15, 2023

San Francisco-based Institutional investment fund sponsor Foss & Company has launched a ‘Standalone Battery Storage Investment Division’, which is targeting $3 billion in tax equity investment into battery projects by 2028.

The new investment platform was “poised to reshape the energy landscape,” a Foss & Company statement said.

It added: “The unveiling of the Standalone Battery Storage Investment Division signifies a pivotal moment in energy investment. As the energy sector rapidly evolves, Foss & Company recognizes the importance of battery energy storage systems (BESS). By uniting its storied expertise in tax equity with cutting-edge energy technologies, the company is at the forefront of the transition towards a sustainable energy ecosystem.” 

Foss & Company has successfully completed more than $200 million of investment in a 300MW / 600MWh standalone battery energy storage project. Foss & Company said it represented the company’s “largest investment into a single asset to-date”.  

George Barry, president & CEO, Foss & Company, said: “We stand on the shoulders of our rich history, a legacy that solidifies Foss & Company’s unparalleled proficiency in tax equity. Our Standalone Battery Storage Investment Division showcases our ability to blend expertise with innovation, propelling us into the future of energy investment.” 

Bryen Alperin, partner & managing director, Foss & Company, added: “With a legacy spanning over four decades, Foss & Company is synonymous with tax equity excellence and innovation. We have built a reputation for being entrepreneurial and leading the way into new tax credit markets as they come online. Our Standalone Battery Storage Investment Division will bring institutional tax equity to this new and rapidly growing market sector. This expansion reflects our dedication to leveraging our extensive experience to catalyse change in the energy sector. We’re excited to embark on this journey and redefine how we power our world.”