Geenex Solar
End-to-end development for utility-scale solar projects.
| Date | Investors | Amount | Round |
|---|---|---|---|
N/A | - | ||
| Total Funding | 000k | ||
Geenex Solar is a developer of greenfield, utility-scale solar energy projects primarily serving the U.S. Southeast and Midwest. Founded in 2012 by Georg Veit, Juergen Fehr, and Josef Kessen, the company is headquartered in Charlotte, North Carolina. The founding team brought together extensive experience in European and U.S. solar development, real estate, and engineering. Veit, after gaining experience in European and U.S. West Coast solar markets, assembled the team to focus on utility-scale systems. Fehr has over two decades of experience in the renewable energy sector, including a role as president and CEO for an international solar panel manufacturer. Kessen is an expert in real estate, solar system development, and architecture.
The company's business model focuses on managing the entire project lifecycle, from initial site selection and land acquisition to navigating environmental assessments, permitting processes, and securing utility interconnection agreements. Geenex develops solar facilities ranging from 20 MW to over 500 MW, with a primary focus on the PJM Interconnection, a regional transmission organization that coordinates wholesale electricity distribution in parts of 13 states and the District of Columbia. The company's revenue is generated through the development and subsequent sale of these large-scale solar projects to entities like utility companies and independent power producers. For example, in 2020, Geenex sold a portfolio of over 20 solar assets totaling more than 4.5GW of capacity to EDF Renewables North America.
Geenex has built a project pipeline of over 10 GW. The company has established financial partnerships, including with New Energy Capital, to fund development and operating expenses for its pipeline of solar and energy storage projects. A key part of Geenex's strategy involves creating partnerships with landowners and local communities, aiming to provide them with long-term benefits such as job creation and economic growth. The company also emphasizes education and has been involved in creating a 'Solar Center of Excellence' to provide training for solar energy technicians.
Keywords: utility-scale solar development, greenfield solar projects, renewable energy developer, PJM interconnection, solar project financing, land acquisition for solar, solar farm permitting, community solar partnerships, solar energy project management, clean energy infrastructure, sustainable land use, renewable energy investment, electricity grid interconnection, solar power purchase agreements, energy storage solutions, solar asset sales, environmental due diligence, Southeast US solar, Midwest US solar, solar energy pipeline