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Pioneering Agreement to Transform the Renewable Energy Landscape in the U.S.
ARLINGTON, Va., Aug. 20, 2024 /PRNewswire/ -- Energix Renewables, a leader in the U.S. renewable energy sector and part of the Energix Group, a global leader in renewable energy, is proud to announce the signing of a strategic long-term agreement with Google. According to the agreement, initially covering 1.5GWp of solar project development until 2030 and with an option for future expansion, Energix will supply electricity and Renewable Energy Credits (RECs) generated from its solar projects to Google, a tax equity provider to Energix. This collaboration solidifies Energix's position as a leading player in the U.S. renewable energy market, particularly within PJM.
The agreement guarantees a market-adjusted price with a downside protection mechanism for energy, competitive REC pricing, and tax equity investments for Energix's projects. This agreement strengthens Energix's capacity to develop its pipeline of projects in PJM, contributing to the execution of Energix's long-term strategic plan. The parties already signed the first two PPAs under this agreement.
Morgan Stanley & Co. LLC acted as sole financial advisor to Energix during the negotiation of this strategic agreement with Google.
