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Energix Renewables said on Tuesday it has signed a long-term agreement with Alphabet’s Google to supply the tech giant with electricity and renewable energy credits generated by its solar projects.
To power their rapidly expanding artificial intelligence data centers, large technology companies such as Google are increasingly negotiating power supply agreements with energy suppliers.
Energix will initially provide 1.5 gigawatt-peak solar project development by 2030, with options to expand the partnership further.
The tech giant will also provide tax equity by shifting renewable energy credits to Energix under President Biden’s inflation-reduction bill.
Under the bill, these credits can be earned by corporate entities to support the development of clean energy storage projects across the United States.
Morgan Stanley served as sole financial advisor to Energix in connection with the agreement.
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