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Marathon Capital Advises Nestlé on Tax Equity Investment and REC Purchase with Enel North America

March 22, 2023


Utility Scale Clean Power


Offtake Advisory

Tax Credit Advisory

  • Greg Andiorio

    Director, Tax & Structuring

  • Joan Hutchinson

    Managing Director & Co-Head of Offtake Advisory

  • Matt Shanahan

    Managing Director

CHICAGO, IL - March 22, 2023 - Marathon Capital, LLC is pleased to have served as the exclusive financial advisor to Nestlé on its investment in a solar project owned by Enel North America, a leading clean energy company in North America. Nestlé is the sole tax equity investor in the 208 MWdc Ganado solar-plus-storage project, located in Jackson County, Texas. In addition to its tax equity investment, Nestlé will purchase 100% of the renewable electricity attributes generated by the project. This investment marks an important step in Nestlé’s journey to reduce greenhouse gas emissions across its operations.

“This investment demonstrates Nestlé’s commitment to achieving its ambitious sustainability goals. It was a pleasure to advise Nestlé on this transaction, and we wish Nestlé and Enel continued success as they work together to help accelerate a net zero future.” - said Greg Andiorio, Director, Marathon Capital.



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