Google and Energix have already signed the first two power purchase agreements as part of this long-term deal. (Source: Shutterstock)
Tech giant Google has tapped Virginia-based Energix Renewables for 1.5 gigawatts (GW) of solar power through 2030 as part of a long-term agreement.
The agreement, with an option for future expansion, was announced Aug. 20 in a news release. Energix said it will supply electricity and renewable energy credits generated from its solar projects to Google, a tax equity provider to Energix.
“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,” said Energix Group CEO Asa (Asi) Levinger. “This joint effort with Google not only strengthens our position in the PJM market but also opens up opportunities for future expansion into other power markets.”
Google and Energix have already signed the first two power purchase agreements as part of this long-term deal. The deal includes a market-adjusted price with a downside protection mechanism for energy, competitive REC pricing and tax equity investments for Energix’s projects, according to the release.
The independent power producer said it expects to deliver the 1.5GW in the next two to three years.
Recommended Reading
New Era Helium, Sharon AI Cement Permian Basin Data Center JV
2025-01-21 - New Era Helium and Sharon AI have created a JV, Texas Critical Data Centers, and are working on offtake gas supply agreements and site selection.
Artificial Lift Firm Flowco Prices IPO Above Guidance at $427MM
2025-01-15 - Flowco Holdings priced its IPO at $24 per share, above its original guidance. The oilfield services firm will begin trading on the New York Stock Exchange on Jan. 16.
ZENRG Capitalizing on New Investments, Tech to Reduce Emissions
2025-01-07 - ZENRG Services recently secured funding from Chevron, BP Energy Partners and EIC Rose Rock to support its expansion of compression technology that keeps methane from being vented or flared.
BYOP (Bring Your Own Power): The Great AI Race for Electrons
2025-01-06 - Data-center developers, scrambling to secure 24/7 power, are calling on U.S. producers to meet demand as natgas offers the quickest way to get more electrons into the taps.
PrePad Tosses Spreadsheets for Drilling Completions Simulation Models
2025-02-18 - Startup PrePad’s discrete-event simulation model condenses the dozens of variables in a drilling operation to optimize the economics of drilling and completions. Big names such as Devon Energy, Chevron Technology Ventures and Coterra Energy have taken notice.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.