Stacking Incentives to Deliver Alpha
We look for “fast moving waters” the economic currents that can create the most value for our investors.
One example is XZERTA Energy, a utility-scale project awarded an $88 million federal grant to subsidize 60% of construction costs. This blended finance structure combines federal grants, investment tax credits, and local incentives to minimize capital risk while enhancing returns.
We structure investments to stack incentives and deliver alpha in Puerto Rico and beyond:
Fund-level incentives(60% tax deduction, 0% capital gains)
Act 60 R&D tax credits(Up to 50%)
Federal grants and Investment Tax Credits(ITC)
By aligning public policy with private capital, we reduce downside and enhance upside.
Transformation with discipline.