Cooperatives are eligible to receive clean renewable energy bonds (CREBs) under the Internal Revenue Code. As explained by AHC attorney David R. Cook, CREBs are tax-exempt bonds that offer lower-cost financing for cooperative’s renewable energy projects. The IRS allocates and awards CREBs, up to a maximum amount, among three groups of eligible recipients: cooperatives, government entities, and public power providers.
In the first round of allocations, cooperatives did not request all available CREB allocations. The IRS held an additional round of allocations and awarded the remaining $190,795,445. Read the announcement here.