US developer Geenex Solar bags funding to advance PV and energy storage pipeline

December 15, 2021
Facebook
Twitter
LinkedIn
Reddit
Email
A 3MW project in North Carolina operated by Cypress Creek. Image: Cypress Creek Renewables.

Utility-scale solar developer Geenex Solar has secured additional financing that will allow it to advance a pipeline of more than 8GW of PV and energy storage projects in the US Southeast and Midwest.

North Carolina-based Geenex, which focuses on PJM-interconnected solar facilities ranging in size from 20MW to upwards of 500MW, has received the funding from alternative asset manager New Energy Capital.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The deal follows the partners entering into their first financial arrangement in early 2019.

“We are excited to have such a strong partner who recognises the significant value of the clean renewable energy that our projects will be supplying to the grid in the future,” said Sarah Hetznecker, who became Geenex Solar’s CEO earlier this year.

Geenex said it has significantly grown the size and scope of its development portfolio over the last three years. In October 2020, the company sold a pipeline of over 20 solar assets in PJM totalling more than 4.5GW of capacity to EDF Renewables North America.

PJM is a regional transmission organisation that coordinates the movement of wholesale electricity in all or parts of 13 states and the District of Columbia. The market is expected to have more solar clearing future capacity market auctions following rule changes introduced earlier this year.  

Other recent announcements in the PJM market include Prospect14 selling around 1GWdc of solar and solar-plus-storage projects in Virginia and Pennsylvania, while a subsidiary of utility American Electric Power issued a request for proposals for offtake from up to 500MW of renewables and standalone battery energy storage systems.

Read Next

October 27, 2025
Global corporate financing in the solar industry reached US$6.5 billion in the third quarter of 2025, a 14% increase from the same period a year ago.
October 23, 2025
Solar PV technology has maintained its leading position as the most cost-competitive power generation source in 2025, according to analyst Wood Mackenzie.
October 21, 2025
Australia's solar-plus-storage sector gained momentum with 725MW of solar PV approvals advancing across New South Wales and Queensland.
October 20, 2025
Independent power producer (IPP) Atlas Renewable Energy has secured up to US$475 million in financing for a 357MW solar-plus-storage project in Chile.
October 17, 2025
Norwegian renewable energy firm Scatec has signed lease agreements for 64MW of solar PV and 10MWh of energy storage capacity in Liberia and Sierra Leone.
October 10, 2025
Australia's renewable energy sector recorded its slowest month of the year for additions in September, with 5.8GW of new projects added to development pipelines, according to data from Rystad Energy.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany
Solar Media Events
March 24, 2026
Lisbon, Portugal