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Energix Renewables and Google Sign Strategic 1.5GW Solar Energy Agreement
Slice of Energy Team
August 22, 2024
Key Highlights:
Energix signs a long-term agreement with Google for 1.5GW of solar project development.
Agreement includes market-adjusted pricing, RECs, and tax equity investments.
Morgan Stanley advised Energix on the strategic agreement.
The deal strengthens Energix’s leadership in the PJM renewable energy market.
Source (PR Newswire)
Notable Quotes:
"This agreement underscores our leadership in the U.S. renewable energy market, enabling us to leverage our unique expertise and resources for unparalleled growth and advancing Google towards its net zero and 24/7 carbon-free energy ambitions."
"There is no one-size-fits-all solution when it comes to decarbonizing our electricity grids and no one company can do it on their own. We are proud of our work with Energix Renewables to unlock new clean energy in PJM."
"This announcement heralds a transformative era in renewable energy. The visionary structure of this agreement ensures mutually beneficial outcomes that should enhance shareholder value for both companies, driving forward the renewable energy revolution."
Our Take:
This strategic partnership between Energix Renewables and Google marks a significant milestone in the U.S. renewable energy landscape. The 1.5GW solar development agreement not only reinforces Energix's leading position in the PJM market but also reflects a broader trend of tech giants like Google investing heavily in sustainable energy solutions to meet their ambitious carbon-free energy goals. The collaboration's emphasis on competitive pricing, RECs, and tax equity investments showcases a robust framework that could serve as a model for future renewable energy agreements. Energix's alignment with global energy leaders positions it well for sustained growth and value creation in the rapidly evolving energy sector.