Energix Renewables has announced a landmark long-term agreement with Google, marking a significant step in the U.S. renewable energy sector. The agreement involves the development of 1.5GWp of solar projects by Energix Renewables, with completion expected by 2030 and an option for future expansion. Under this deal, Energix will provide electricity and Renewable Energy Credits (RECs) from its solar projects to Google, which also acts as a tax equity provider.

This agreement ensures Energix competitive pricing for both energy and RECs, along with a market-adjusted price mechanism featuring downside protection. The collaboration solidifies Energix's position in the PJM market and supports its long-term strategic growth.

Morgan Stanley & Co. LLC served as the sole financial advisor to Energix during the negotiation. Asa Levinger, CEO of Energix Group, expressed enthusiasm for the partnership, emphasizing its role in advancing both companies' renewable energy goals.

Amanda Peterson Corio, Google's Global Head of Data Center Energy, highlighted the importance of this collaboration in advancing Google's 24/7 carbon-free energy objectives.

Itamar Sarussi, Deputy CEO and CCO of Energix US, called the agreement a transformative milestone, enhancing value for shareholders and accelerating the renewable energy transition.

Source: prnewswire.com