Invest in FRF tokens to support us

clean energy

Geenex secures funds for solar and energy storage pipeline

Geenex Solar LLC, a utility-scale solar developer focused on the PJM region, said it closed additional financing from New Energy Capital. NEC and Geenex entered into their first financial arrangement in early 2019. Terms of the latest deal were not disclosed. 

Proceeds are expected to fund development and operating expenses, and are expected to allow Geenex to advance its pipeline of more than 8 GW of solar and energy storage projects across the Southeast and the Midwest.

Geenex Solar is a greenfield solar developer with a primary focus on PJM-interconnected solar facilities ranging in size from 20 MW to 500 MW. 

New Energy Capital is an affiliate of Victory Capital Investment and has made more than 40 investments and invested over $1 billion. 

In 2020, EDF Renewables North America and Geenex agreed to develop up to 4.5 GWac of solar across PJM. EDF and Geenex worked to develop and build the Pecan and Gutenberg solar projects in 2015. The project portfolio included projects in various stages of development. The first projects were expected to enter service in 2023.

Author

  • Renewable Energy World’s content team members help deliver the most comprehensive news coverage of the renewable energy industries. Based in the U.S., the UK, and South Africa, the team is comprised of editors from Clarion Energy’s myriad of publications that cover the global energy industry.

Related posts
clean energy

LG to stop manufacturing solar panels, cites industry ‘uncertainties’

clean energy

New York Bight offshore wind auction advances as bids total $1.5 billion

clean energy

LG to stop manufacturing solar panels due to industry ‘uncertainties’

clean energy

New York Bight offshore wind auction enters second day with bids totaling $1.5 billion

Sign up for our Newsletter and
stay informed

Leave a Reply

Your email address will not be published.