Schneider: tax credit transfer with Kimberly-Clark

(CercleFinance.com) - Schneider Electric announced on Monday the signing of e several tax credit transfer agreements with US personal care products manufacturer Kimberly-Clark.


In a press release, the French group says it has been chosen by the owner of the Huggies, Kleenex and Scott brands as a strategic advisor to help finance four battery energy storage projects as part of the decarbonization of its operations.

Schneider explains that it has advised Kimberly-Clark on several occasions since 2016, with the aim of helping the US group move closer to its goal of 100% renewable energy in North America by 2020.

The agreement is designed to enable Kimberly-Clark to take advantage of the tax credit transferability provisions of the Inflation Reduction Act (IRA), which are intended to help companies achieve their renewable energy goals.

This transferability clause enables the transfer of qualifying federal tax credits from renewable energy, clean energy manufacturing and battery storage projects, among others.

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