In a landmark move signaling confidence in clean energy infrastructure, Fullmark Energy has successfully secured $46 million through the sale of Investment Tax Credits (ITCs) from its Redwood Projects portfolio in Southern California. This milestone not only underscores the company’s strategic financial planning but also marks a significant leap forward in supporting renewable energy storage expansion across the region. Let’s delve into how this transaction shapes Fullmark Energy’s next chapter in sustainable growth and innovation.

Fullmark Energy’s $46 million ITC sale reflects a well-timed financial maneuver following the operational success of the Redwood Projects portfolio. By monetizing tax credits generated from these advanced energy storage facilities, the company has strengthened its capital base to further invest in future-ready energy storage systems. This transaction was finalized shortly after the projects became commercially operational, demonstrating Fullmark’s capability to translate clean energy assets into tangible financial strength. Such strategic capital inflows are becoming essential in the renewable energy landscape, where scalability and liquidity play key roles in long-term growth.

At the heart of this milestone lies the Redwood Projects portfolio—four cutting-edge energy storage facilities with a combined capacity of 125MW/290MWh. Each site contributes uniquely to California’s renewable grid reliability:

• San Jacinto (65MW / 130MWh) in Banning
• Johanna ESS (20MW / 80MWh) in Santa Ana
• Desert-Carris (20MW / 40MWh) in Palm Springs
• Ortega (20MW / 40MWh) in Lake Elsinore

All these facilities are seamlessly connected to the Southern California Edison distribution system and actively participate in the CAISO market, enhancing energy resilience and peak load management. Reaching commercial operation on November 7, 2025, these assets mark Fullmark’s growing footprint in California’s clean energy landscape.

The proceeds from this ITC transfer will fuel the next wave of growth for Fullmark Energy, specifically in the development of Battery Energy Storage System (BESS) projects and the strengthening of existing operations. By reinvesting capital into advanced storage infrastructure, the company is paving the way for improved grid stability and renewable integration. BDO USA, serving as the tax credit transfer advisor, played a pivotal role in optimizing the transaction structure, ensuring Fullmark’s continued financial agility. As clean energy markets mature, such strategic reinvestments will be crucial in accelerating the energy transition while delivering long-term value to both investors and communities.
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Fullmark Energy’s $46 million ITC transaction not only highlights its financial acumen but also reinforces its commitment to powering California’s clean energy future. With a strong operational base and strategic reinvestment plans, Fullmark is set to drive innovation in energy storage and grid modernization.

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