Commission grants 4-month extension for two Prince George—s County solar projects to Nov. 13, 2025

The Public Service Commission on Aug. 20 granted ICFTS MD Solar LLC a waiver extending the operational deadline for two Prince George's County solar projects by four months to Nov. 13, 2025, to allow the company to finalize tax-equity financing prior to energizing the projects.

Harrison, appearing on behalf of commission staff, said ICFTS filed the request on July 11, 2025, seeking a waiver of COMAR 20.62.03.04(c) pursuant to COMAR 20.62.01.04 because the projects need a short delay to complete tax-equity financing. Harrison told the commission the two projects total 0.9 megawatts, are fully constructed, have executed interconnection agreements in good standing, and have all required local and state permits. Staff recommended granting the waiver, stating there was good cause because the delay stems from final financial due diligence tied to using the federal investment tax credit.

David Bugleman appeared on behalf of ICFTS MD Solar LLC and said the company expects a tax-equity closing on Sept. 5, 2025. Barrett Lachance, with Summit Ridge Energy (the project's owner and developer), described industry-wide uncertainty after recent Treasury guidance tied to federal tax-credit rules and said that guidance had delayed some investors' willingness to close. "With the Treasury guidance passing, we are seeing people more willing to move forward more quickly at this point," Lachance said. Lachance confirmed the projects are fully subscribed and said subscribers had been informed that benefits from the projects would be available after construction and financing milestones were met.

Commissioners asked whether the recent Treasury guidance had altered financing prospects and whether the company had contingency plans if the anticipated Sept. 5 closing did not occur. Lachance said the developer had a binding term sheet with a tax-equity investor since April, had vetted other investors, and could pursue a tax-credit transfer in a marketplace as an alternative if necessary, though he said that alternative was usually economically detrimental to the project.

Commissioner Linton said he would appreciate being informed on Sept. 5 about the status of the financing because the commission might need to take action if the preferred financing path fails. The company agreed to file an update on Sept. 5 if helpful.

With no recorded opposition in the transcript, the commission voted to grant the waiver to extend the operational deadline to Nov. 13, 2025. Commissioners recorded aye votes for the motion; no no votes or abstentions were recorded in the transcript.

Clarifying details offered at the meeting included the projects' combined capacity (0.9 MW), location (Prince George's County), that the projects are fully constructed with interconnection agreements and permits in place, and an anticipated Sept. 5, 2025 tax-equity closing. The waiver was granted specifically because the projects are awaiting financial closing to secure investment tax credit benefits and to finalize tax-equity partnerships, not because of construction or permitting delays.