Energix Renewables obtains US$520 million for six US projects

Facebook
Twitter
LinkedIn
Reddit
Email
Energix Renewables will have 640 MWdc of operational projects after securing the latest finding. Image: Andreas Gucklhorn via Unsplash.

Independent power producer (IPP) Energix Renewables has secured US$520 million for six utility-scale solar projects with a combined capacity of 416MW.

With the new funding, Energix Renewables will construct and operate these solar projects in Virginia and Pennsylvania. The total construction and term-loan amount committed by lenders, led by Santander CIB, was US$260 million, while the total tax equity commitment was US$260 million.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

After the latest transaction, Energix Renewables’s total investment in energy infrastructure in the US will be close to US$1 billion.

Morgan Stanley Renewables was the tax equity investor in this transaction, marking the third tax equity deal Energix had closed with Morgan Stanley. The prior two deals were closed in 2020 and 2021 and were associated with eight projects in Virginia with a total capacity of 200MW.

“Through partnerships like this, Energix can develop utility scale solar projects and produce clean electricity for the benefit of the communities in Virginia and Pennsylvania,” said Itamar Sarussi, country manager of Energix US.

Currently, Energix Renewables has nine facilities with a capacity of 224MWdc across the Mid-Atlantic region. Combined with the latest additions, Energix Renewables will have 640 MWdc of operational projects by the end of 2023.

Energix Renewables entered the US market in 2016 and recently inked a deal with solar tracker company Nevados to add trackers to three solar power plants.

Read Next

July 2, 2024
The World Bank has committed US$1.5 billion to support India’s renewable energy transition, including new renewable power generation capacity.
June 13, 2024
US solar technology company Swift Solar has secured US$27 million to develop its perovskite tandem solar cell manufacturing.
May 24, 2024
Ørsted has closed a US$680 million tax equity financing with JP Morgan for a solar project, alongside a solar-plus-storage project.
May 22, 2024
US utility-scale service provider Cleanleaf Energy has signed 350MW of operations and maintenance (O&M) services in the US.
May 3, 2024
The Virginia General Assembly has passed a bill to allow rooftop solar leasing with a third-party in the state,
May 2, 2024
The US Department of Energy' SETO has launched an up to US$20 million funding opportunity through the 2024 Photovoltaics Research and Development.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA
Solar Media Events
October 15, 2024
Santiago, Chile