KeyState Closes $98.6 Million ITC Transfer Transaction, Expanding Community Bank Access to Large-Scale Tax Credit Investments

LAS VEGAS, NV / ACCESS Newswire / November 11, 2026 / KeyState, a leading provider of tax-advantaged investment solutions for financial institutions, today announced the closing of a $98.6 million investment tax credit (ITC) transfer transaction tied to a utility-scale solar project in the Southeast. Through its SOLCAP tax credit platform, KeyState facilitated the purchase of the ITCs by a group of community banks from an investment-grade regional bank.

The transaction demonstrates how SOLCAP provides community banks seeking individual ITC investments of approximately $5 million to $20 million with access to larger transactions from established institutional sellers. In this transaction, the investment-grade regional bank provided the guaranty and indemnification supporting the transferred tax credits.

"Community banks want access to high-quality ITC investments, but their individual investment needs are often much smaller than the transactions available from large institutional sellers," said Allan Riska, Chief Investment Officer of KeyState. "SOLCAP bridges that gap by giving community banks access to larger transactions with established, investment-grade counterparties, in investment sizes that fit their tax capacity." The transferred ITCs were generated by a utility-scale solar project developed and constructed by a large national renewable energy developer.

KeyState supports community banks throughout the ITC transfer process, including sourcing opportunities, underwriting, negotiating transaction terms, coordinating diligence and closing, and managing ongoing reporting requirements. "Access is only part of the value we provide," said Riska. "Our team manages the process from start to finish, making ITC transfer investments more efficient and accessible for community banks."

Through its SOLCAP platform, launched in 2019, KeyState has facilitated more than $1 billion in tax credit investments across more than 200 renewable energy projects.

About KeyState

KeyState provides community banks and middle-market companies with innovative investment and insurance solutions designed to have a meaningful impact on earnings. Founded in 1991, KeyState serves more than 140 community banks and more than 200 companies nationwide.

KeyState's SOLCAP renewable energy tax credit platform has raised and deployed more than $1 billion across more than 200 renewable energy projects. KeyState is headquartered in Las Vegas, Nevada, with additional offices in Wilmington, Delaware; Denver, Colorado; and Burlington, Vermont.

For more information, visit www.key-state.com.

Media Contact Details

Violette Daou
KeyState
vdaou@key-state.com
www.key-state.com

SOURCE: KeyState