Special-Purpose Community Partnerships Acquire Clean Power Rights Created With Advanced Technology
WASHINGTON, DC and SAN FRANCISCO, CA / ACCESSWIRE / September 30, 2024 / Today, Jim Kiles and Keenan Hale, Managing Directors of the VAYU TM Clean Power Reserve ("VAYU TM"), 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.
VAYU has identified a U.S. wind farm redevelopment capacity of 70GW and anticipates similar advancements and needs in solar and decarbonized/electrified natural gas through 2030.
This announcement signifies the launch of VAYUTM financing, enabled by the Inflation Reduction Act of 2022 ("IRA"). VAYUTM Community Tax Equity aims to bring substantial capital to communities that embrace clean power. Central to VAYUTM'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 VAYUTMCommunity 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 VAYUTM: VAYUTMis 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 VAYUTM'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 VAYUTMClean Power Reserve (VAYUTMwhich 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.
Contact Information
Jim Kiles
Managing Director
jim@vayuai.com
1-415-317-2956
Keenan Hale
Managing Director
keenan@vayuai.com
1-202-525-0542
SOURCE: VAYU Clean Power Reserve
View the original press release on newswire.com.
