Geenex Solar LLC ("Geenex"), a utility-scale solar developer focused on the PJM energy marketplace, is pleased to announce the closing of additional financing from New Energy Capital ("NEC"). NEC and Geenex entered into their first financial arrangement in early 2019. With NEC's support, Geenex has significantly grown the size and scope of its development portfolio over the past three (3) years.
"The partnership with NEC allows Geenex Solar to focus on what we do best, develop utility-scale solar projects," said Sarah Hetznecker, CEO of Geenex Solar. "We are excited to have such a strong partner who recognizes the significant value of the clean renewable energy that our projects will be supplying to the grid in the future."
Capital from the closing will provide Geenex Solar with the ability to fund critical development and operating expenses. This new investment will allow Geenex to further advance their pipeline of more than eight (8) GW of solar and energy storage projects across the Southeast and the Midwest.
"NEC is thrilled to continue our partnership with Geenex Solar," stated Patrick Fox, Partner at New Energy Capital. "Geenex is a best-in-class developer comprised of an outstanding team of professionals who really understand the utility-scale solar market and what it takes to make a project successful. We look forward to supporting them in the years to come."
About Geenex Solar
Geenex Solar is a greenfield solar developer with a primary focus on PJM-interconnected solar facilities ranging in size from 20 MW to upwards of 500 MW. Geenex is skilled in all aspects of solar project development including site evaluation, real estate procurement, facility and interconnection engineering, environmental analysis, as well as federal, state and local permitting. Geenex Solar's experienced and community-focused team ensures a solar project's successful navigation of the development process from its initial stages through to its delivery of clean, reliable power to the grid and associated communities. Geenex - Simply Solar. Please visit www.geenexsolar.com for more information.
About New Energy Capital
New Energy Capital, a Victory Capital Investment Franchise, is a leading alternative asset manager investing across the capital structures of clean energy infrastructure projects and companies. New Energy Capital has made over 40 investments and invested over $1 billion. Please visit www.newenergycapital.com for more information.
