“The demand is extremely robust for tax credit transfers and we're already working on '24 as we speak, having '23 pretty much behind us.”

In context

“t position company to execute well against an environment like that. David Arcaro: Great. Thanks. That's really helpful. And I was also curious on the tax credit transfers market. Could you touch on what you're seeing in terms of demand and interest from counterparties? How deep is that market and what level of pricing that you're realizing when you're transferring these credits as it becomes a more important source of cash flow over the next few years? John Ketchum: Yeah, Dave, I'll take that question. First of all, I would argue, we have an outstanding tax department. And our tax department, yeah, together with our treasury group started early and we've already reached out to 50 of the top U.S. taxpayers in our building relationships and have had terrific execution against our '23 plan. The demand is extremely robust for tax credit transfers and we're already working on '24 as we speak, having '23 pretty much behind us. And one of the things that really helps NextEra and the tax transfer market is the fact that we have a strong balance sheet. We have an A minus rate from the parent and we're able to underwrite the credit. And being able to underwrite the credit is really, really important because we compete against a lot of really small developers that can't, that if you go to the top 50 taxpayers, they've never heard of these companies. They don't know who they are. They don't really know what they do. They know NextEra and we can provide an indemnity behind the tax credit that we transfer. It sleeves off our vest, so to speak, to be able to do that and we get preferred pricing because of it and so I feel great about where things stand in terms of our tax credit transfer program. Rebecca Kujawa: And I'd”