US programmer Geenex Solar bags financing to advance PV as well as energy storage pipe

• Utility-scale solar programmer Geenex Solar has secured additional financing that will certainly allow it to progress a pipeline of more than 8GW of PV and energy storage space projects in the United States Southeast and Midwest.

North Carolina-based Geenex, which focuses on PJM-interconnected solar centers varying in size from 20MW to upwards of 500MW, has gotten the financing from alternate asset manager New Energy Capital.

The deal adheres to the partners participating in their first financial setup in early 2019.

"We are thrilled to have such a strong partner who recognises the significant worth of the tidy renewable resource that our projects will certainly be supplying to the grid in the future," stated Sarah Hetznecker, who ended up being Geenex Solar's chief executive officer earlier this year.

Geenex claimed it has actually dramatically grown the size and also extent of its advancement portfolio over the last three years. In October 2020, the firm marketed a pipeline of over 20 solar properties in PJM completing more than 4.5 GW of capacity to EDF Renewables North America.

PJM is a local transmission organisation that works with the activity of wholesale electrical energy 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.

Various other recent statements in the PJM market include Prospect14 offering about 1GWdc of solar and solar-plus-storage projects in Virginia and Pennsylvania, while a subsidiary of utility American Electric Power issued an ask for proposals for offtake from as much as 500MW of renewables and standalone battery energy storage space systems.