Concentro facilitates Orlo solar tax credit sale on housing project

Orlo, a US-based real estate developer, has closed a $3.4 million tax credit transfer for its 2.2 MW rooftop solar installation at Seneca Village in Montgomery County, Maryland. The system spans 58 rooftops and is expected to generate 2.5 million kWh annually, offsetting over 2,000 metric tons of greenhouse gas emissions. According to Orlo, the project has qualified for a 10% low-income community Investment Tax Credit adder under the Inflation Reduction Act. Concentro, a Colorado-headquartered platform that facilitates clean energy tax credit transfers, has managed the full transaction process. Concentro has sourced a corporate tax credit buyer and provided diligence, legal, and insurance support. The project was supported with catalytic funding from the Montgomery County Green Bank and is the largest rooftop solar deployment on affordable multifamily housing in the county to date.