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.
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