Basis Climate closes $15M in 45X Advanced Manufacturing Production tax credit transfers for Elin Energy, which produces solar panels under the Sirius PV brand

The 45X Advanced Manufacturing Production Credit, established under the Inflation Reduction Act, provides tax credits to domestic manufacturers of eligible clean energy components, including solar modules, solar cells, and other critical energy infrastructure. Elin Energy qualifies for these credits through its solar module assembly operations at its 225,000-square-foot, fully automated manufacturing facility in Waller County, near Houston, Texas.

"Monetizing our 45X credits through tax credit transfer is a meaningful milestone for Elin Energy as we continue to scale our domestic manufacturing operations," said Afsin Mese, Chief Operating Officer of Elin Energy. "The capital unlocked allows us to further investment in our Texas facility, advance our production capabilities, and deliver high-quality, American-made solar panels to meet growing demand across the United States. We are proud to be contributing to the domestic clean energy supply chain and creating local jobs in the greater Houston area."

“We are thrilled to have provided transfer solutions for Elin Energy across two separate buyers - a regional bank and an American manufacturer - in 2025,“ said Erik Underwood, CEO of Basis Climate. “After visiting their facility, I was impressed with the professional and high quality production. We look forward to supporting Sirius’ 2026 transfers and the US domestic supply chain.”

Elin Energy began production at its Texas facility in 2024 with an initial annual capacity of 1GW, with plans to expand to 2GW by November 2026. The facility currently employs over 275 associates locally, with plans to scale to 550 as production ramps. The plant features AI-driven quality assurance systems and fully automated production lines, producing high-performance modules for residential applications.

The Basis platform streamlines the process of transferring clean energy tax credits under the Inflation Reduction Act, connecting credit generators like Elin Holding Company with corporate buyers seeking to offset their federal tax liability while supporting the growth of the U.S. clean energy economy.

About Elin Energy & Elin Electric

Elin Energy is a solar photovoltaic module manufacturer operating a fully automated, 225,000-square-foot factory in Waller County, Texas. A subsidiary of Elin Electric (Elin A.Ş.), the company produces high-performance solar modules for residential customers. Elin Energy is committed to ethical sourcing, transparent manufacturing, and long-term customer partnerships, backed by 25-year product and performance warranties. With a combined production capacity exceeding 7.5GW across three factories in Europe and the United States, Elin is among the largest solar PV module manufacturers serving global markets. The group is committed to achieving zero carbon emissions by 2053 in alignment with the Paris Climate Agreement. For more information, visit siriuspv-usa.com.

About Basis Climate

Basis Climate is a leading platform for buying and selling clean energy tax credits under the Inflation Reduction Act. Basis connects manufacturers and developers generating clean energy tax credits with corporate buyers, streamlining price discovery, due diligence, and transaction execution. For more information, visit buildwithbasis.com.