Google has signed two solar energy deals in the US.

The company this week signed a deal to offtake from a Swift Current solar farm in Illinois, and to also offtake from Energix Renewables solar farms in development in the PJM market.

Google signs energy deal with Energix

Energix Renewables this week announced a long-term agreement with Google, initially covering 1.5GWp of solar project development until 2030 and with an option for future expansion.

Energix will supply electricity and Renewable Energy Credits (RECs) generated from its solar projects to Google, a tax equity provider to Energix. The parties have signed the first two PPAs under this agreement.

Energix said the agreement strengthens the company’s capacity to develop its pipeline of projects in PJM.

Asa Levinger, CEO of the Energix Group, said: "We are thrilled to embark on this strategic collaboration with Google. This agreement underscores our leadership in the US 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.

"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, we expect to deliver the 1.5GW in the next 2-3 years."

Amanda Peterson Corio, global head of data center energy at Google, added: "There is no one-size-fits-all solution when it comes to decarbonizing our electricity grids and no one company can do it on their own. We are proud of our work with Energix Renewables to unlock new clean energy in PJM. This type of collaboration is essential as we continue to progress towards our ambition to run on 24/7 carbon-free energy (CFE) on every grid where we operate every hour of every day."

Part of the Energix Group, Virginia-based Energix Renewables specializes in the development, construction, and operation of renewable energy projects across the US. All of its live projects in the US are currently located in Virginia.

With a total operational capacity of 636MWdc, the company has 15 projects in operation, and more in various stages of construction and development. The wider company also has solar and wind projects in Poland and Israel.

Founded in 2009 and listed on the Tel Aviv Stock Exchange, Energix is majority-owned by Alony Hetz Properties and Investments, one of the largest real estate investment groups in Israel

Morgan Stanley & Co. LLC acted as sole financial advisor to Energix during the negotiation of this strategic agreement with Google.

Google signs solar deal with Swift Current

Swift Current Energy this week announced that it has closed on a tax equity investment from Google for its 800MWdc (593MWac) Double Black Diamond Solar project in southern Illinois.

Located 30 miles west of Springfield, Double Black Diamond is reportedly expected to be the largest solar project east of the Mississippi River.

Located within the MISO market, the project is currently under construction and is expected to reach commercial operations by early 2025.

Eric Lammers, CEO and co-founder of Swift Current, said: “Projects of Double Black Diamond Solar’s magnitude require innovative partnerships. We are delighted to join forces with Google on a ground-breaking structure that will support Double Black Diamond Solar and serve as a guide for other major projects to come.”

Google’s Corio added: “As we work to responsibly grow our infrastructure, we need to partner with companies like Swift Current who understand the nuances of the energy markets where we operate and can help unlock new clean energy at a rate that matches the pace and scale of demand growth on electric grids today.”

Swift Current is the project developer and will be the long-term owner and operator. Mitsubishi UFJ Financial Group (MUFG), Societe Generale, Truist, and ING provided construction financing for the project.

McCarthy Building Companies, Inc. is the project’s engineering, procurement, and construction (EPC) partner. The solar farm will use US-made modules from First Solar.

Constellation NewEnergy, Inc. will purchase a portion of the energy and RECs generated by Double Black Diamond Solar to serve previously announced customers: The City of Chicago; Chicago O’Hare International Airport and Midway International Airport; Cook County Illinois; CVS Health; Loyola University of Chicago; PPG; State Farm; and TransUnion.

Vinson & Elkins LLP and Husch Blackwell LLP represented Swift Current in the transaction. Milbank LLP and Bryan Cave Leighton Paisner LLP represented Google.

Founded in 2016, Swift Current develops, owns, and operates highly competitive, utility-scale wind, solar, and energy storage projects across the United States.

Swift Current has developed more than 2GW to date across Illinois, Texas, Mississippi, Maine, and Rhode Island, and has a project pipeline of more than 10GW in development.

The company is majority-owned by Buckeye Energy Holdings, with IFM Net Zero Infrastructure Fund and Lookout Ridge Energy Partners as investors.