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					</table><p><a href="https://www.energixrenewables.com/" target="_blank" rel="noopener">Energix Renewables</a>, a U.S.-headquartered independent power producer, has closed two project financing transactions totaling $520 million with Santander Corporate &amp; Investment Banking (<a href="https://www.santandercib.com/" target="_blank" rel="noopener">Santander CIB</a>) and <a href="https://www.morganstanley.com/articles/decarbonization-renewable-energy-investment-ideas" target="_blank" rel="noopener">Morgan Stanley Renewables</a> to develop six utility-scale solar projects in the U.S.</p>
<p>The financing deals involve a consortium led by Santander CIB, providing a construction and term loan facility of $260 million, while Morgan Stanley acts as a tax equity investor with a commitment of $260 million.</p>
<p>The funds raised through these transactions will be used to develop six utility-scale solar projects in Virginia and Pennsylvania.</p>
<p>The projects cumulatively are expected to generate a combined capacity of 416 MW (DC), providing domestically produced power to local grids.</p>
<p>The company said the significant boost to the local economies would not only increase tax revenues but also create hundreds of well-paying construction jobs.</p>
<p>One project within the portfolio is the Adams Solar project, which is projected to meet 22% of the City of Philadelphia&#8217;s municipal electricity demand.</p>
<p>With the investment, Energix is projected to have 640 MW (DC) of operational projects by the end of 2023. The company said the expansion would contribute to the company&#8217;s investment in American energy infrastructure, approaching a total of $1 billion, and also strengthen the solar workforce in the Mid-Atlantic and promote sustainable energy solutions across the region.</p>
<p>&#8220;Energix is delighted to further strengthen its longstanding partnership with Morgan Stanley. This continued collaboration reinforces Energix&#8217;s position as a leading independent power producer in the US market,&#8221; stated Asa (Asi) Levinger, CEO of Energix.</p>
<p>The recent transaction marks the third tax equity deal between Energix and Morgan Stanley.</p>
<p>The company has established a new partnership with Santander CIB, expanding its collaboration to the U.S. The alliance aims to leverage Santander&#8217;s extensive network and resources, allowing Energix to expand its footprint.</p>
<p>&#8220;Santander Corporate &amp; Investment Banking is proud to continue supporting Energix in the development of their global renewable pipeline by expanding our existing relationship to the U.S., allowing the company to continue delivering high-quality utility-scale projects,&#8221; said Nuno Andrade, Head of Structured &amp; Acquisition Finance in the U.S.</p>
<p>Energix Renewables has said it would exclusively use modules from U.S.-based solar module manufacturer <a href="https://www.firstsolar.com/en-IN/" target="_blank" rel="noopener">First Solar</a> to ensure the use of domestically produced materials.</p>
<p>According to Mercom’s <a href="https://mercomcapital.com/product/q1-2023-solar-funding-ma-report/" target="_blank" rel="noopener">Q1 2023 Solar Funding and M&amp;A Report</a>, total corporate funding for solar companies, including from venture capital, public market, and debt financing, amounted to $8.4 billion in 42 deals in the first quarter of 2023, up 11% year-over-year compared to $7.5 billion raised in 49 deals.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
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<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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Energix Renewables Secures $520 Million for Six Solar Projects in the US

<p><a href="https://www.appalachianpower.com/" target="_blank" rel="noopener">Appalachian Power</a>, an electric utility in the United States, has invited bids to develop 300 MW of solar and wind projects. The request for bids is the first in a series of requests for proposal (RfP) that the company has planned for this year to comply with the Virginia Clean Economy Act (VCEA).</p>
<p>Under the VCEA, the company must meet the annual targets to achieve a 100% carbon-free economy in its Virginia territory by 2050.</p>
<p>Depending on the results of the RfP, the company may pursue additional resources beyond 300 MW. The minimum bid capacity for this RfP has been fixed as 50 MW.</p>
<p>The last date to submit the bids is March 31, 2021, and bidders will be shortlisted on April 30. The projects should be operational by mid-December 2023, although proposals with an operational date of no later than December 15, 2024, will also be considered.</p>
<p>Appalachian Power is seeking wind projects that will qualify for the federal tax credit and solar projects that will qualify for the federal investment tax credit. The solar projects must be interconnected to the power pool and located in Virginia.</p>
<p>For project development, the bidder must have established site control of the proposed project, and it should be in the form of direct ownership, land lease, or easement. The solar panels and inverters must be manufactured by approved vendors. The wind project turbines should be manufactured by GE, Vestas, and Siemens-Gamesa.</p>
<p>Chris Beam, President, and Chief Operating Officer, Appalachian Power, said, “This is Appalachian Power’s largest request yet in a single year for renewable energy bids. We look forward to reviewing the proposals and issuing more requests for bids later this year as we expand our portfolio and reliance on clean energy.”</p>
<p>The bidders can include a battery energy storage system, which should not be more than 20% of the project capacity. The bidder is responsible for all costs associated with transmission interconnections and system upgrades as required by the interconnecting utility.</p>
<p>Appalachian Power, a part of <a href="https://www.aep.com/" target="_blank" rel="noopener">American Electric Power</a>, is a renewable energy company, producing approximately 1,900 Gigawatt hours of energy annually from wind and hydropower.</p>
<p>In August 2020, AEP <a href="https://www.aep.com/news/releases/read/5718/AEP-Renewables-Purchases-Invenergy-Share-Of-Desert-Sky-And-Trent-Mesahttps:/www.aep.com/news/releases/read/5718/AEP-Renewables-Purchases-Invenergy-Share-Of-Desert-Sky-And-Trent-Mesa" target="_blank" rel="noopener">said</a> that its renewable energy subsidiary AEP Renewables completed the purchase of Invenergy’s 20.1% interest in the Dessert Sky and Trent Mesa wind projects in Texas. AEP Renewables owns 1.36 GW of large-scale solar, wind, and energy storage projects across the United States.</p>
<p>AEP Energy Partners, another AEP subsidiary, <a href="https://www.prnewswire.com/news-releases/aep-energy-partners-signs-letter-of-intent-to-purchase-50-mw-output-from-columbus-solar-park-301159408.html" target="_blank" rel="noopener">signed</a> a letter of intent with BQ Energy Development to purchase 100% offtake of the Columbus Solar Park in Columbus, Ohio.<strong> </strong>The solar project is scheduled to be operational by December 2022, and once completed, will have the capacity to power 5,000 homes.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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US Electric Utility Invites Bids for 300 MW of Solar and Wind Projects

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