Energix Renewables, a prominent player in the U.S. renewable energy sector and part of the global Energix Group, has announced a major strategic agreement with Google. This long-term partnership will see Energix supply electricity and Renewable Energy Credits (RECs) generated from its solar projects to Google, a significant player in the clean energy transition. The agreement, initially covering 1.5GWp of solar project development until 2030 with an option for future expansion, underscores Energix’s leadership in the U.S. renewable energy market, particularly within the PJM Interconnection (PJM) region.
This strategic collaboration provides Energix with a market-adjusted price with downside protection for energy, competitive REC pricing, and tax equity investments for its projects. The agreement strengthens Energix’s capacity to develop its project pipeline in PJM, supporting the company’s long-term strategic plan. Energix and Google have already signed the first two Power Purchase Agreements (PPAs) under this comprehensive agreement.
“We are thrilled to embark on this strategic collaboration with Google,” said Asa (Asi) Levinger, CEO of the Energix Group. “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.” Levinger highlighted the potential for expansion into other power markets, with a goal of delivering the 1.5GW of solar capacity within the next 2-3 years.
“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,” 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.”
Itamar Sarussi, Deputy CEO and CCO of Energix US, added, “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.”
Jorge Iragorri, Managing Director at Morgan Stanley & Co. LLC, which acted as the sole financial advisor to Energix during the negotiation process, emphasized the significance of collaboration among industry leaders to achieve energy transition goals. He stated, “This agreement underscores the importance of collaboration among market leaders across sectors to meet the goals of energy transition and the power needs of transformative technology, such as AI applications and the datacenters that house them.”
Energix Renewables, headquartered in Arlington, Virginia, is a leading independent power producer (IPP) focused on developing, constructing, and operating renewable energy projects throughout the United States. The company has invested over $1.5 billion in the U.S. to date and currently operates 15 solar projects, with many more in various stages of construction and development. Energix Renewables is committed to community involvement and environmental stewardship. As part of a global enterprise with operations in the United States, Israel, and Poland, Energix Renewables creates sustainable, long-term value for local communities, landowners, stakeholders, and the environment alike.
