Energix bags Google as investor and off-taker for 1.5 GWp of US solar

Google LLC has committed to supporting over 1.5 GWp of solar projects in the US as a tax equity investor and a corporate power buyer, a press release said on Tuesday.

US-based independent power producer Energix Renewables said it has signed a long-term agreement with Google initially covering 1.5 GWp of solar project development until 2030, with an option to expand in the future.

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The IT giant will provide tax equity financing to support the development of Energix's portfolio and buy the electricity generated by these solar projects and the associated renewable energy credits (RECs). The agreement includes a market-adjusted price for energy with downside protection and competitive REC pricing.

The press release indicates that the solar projects will be located within the PJM Interconnection (PJM) region. Energix said that the parties had already signed the first two power purchase agreements (PPAs) under this arrangement.

Asa (Asi) Levinger, CEO of the Energix Group, said he expects to deliver all projects within the initial scope in the next two to three years.

"There is no one-size-fits-all solution when it comes to decarbonising our electricity grids and no one company can do it on their own,” stated Amanda Peterson Corio, Global Head of Data Center Energy at Google. “We are proud of our work with Energix Renewables to unlock new clean energy in PJM. This type of collaboration is essential as we continue to progress towards our ambition to run on 24/7 carbon-free energy (CFE) on every grid where we operate every hour of every day”.

Also on Monday, it was announced that Google is making a tax equity investment in Swift Current Energy's Double Black Diamond Solar project in Illinois.