In this episode, recorded live at the ACORE Finance Forum in NYC, host Benoy Thanjan sits down with Ray Long, President & CEO of ACORE. They discuss the evolving clean energy finance landscape, grid permitting challenges, policy battles around the Inflation Reduction Act (IRA), and the exponential demand for power driven by AI and electrification.
Ray also shares the history and mission of ACORE—from its origins connecting Wall Street to developers in 2001, to its current role as a leading voice in renewable energy policy and finance.
Explosive Growth in Power Demand
IRA Threatened by Tax Bill
“Big Beautiful Bill” proposes eliminating key tax incentives from the IRAWould undermine progress and financing certainty across clean energy marketsIndustry needs a thoughtful, phased approach, not abrupt disruptionPermitting & Interconnection Bottlenecks
Interconnection Crisis
Major ISOs like PJM are overwhelmed—some developers face 7+ year delaysLoad centers like Virginia see 100+ data center projects awaiting connectionACORE’s Macro Grid Initiative pushes for regulatory fixes and grid modernizationBipartisan Momentum & Strategy
ACORE promotes an “all of the above” strategy—recognizing solar, wind, storage, natural gas, and emerging techUrges policymakers to emulate China’s aggressive infrastructure and energy approachEmphasizes renewables as a national competitiveness issue—not just environmentalBenoy Thanjan is the Founder and CEO of Reneu Energy and he is also an advisor for several solar startup companies. He has extensive project origination, development, and financial experience in the renewable energy industry and in the environmental commodities market.
This includes initial site evaluation, permitting, financing, sourcing equipment, and negotiating the long-term energy and environmental commodities off-take agreements. He manages due diligence processes on land, permitting, and utility interconnection and is in charge of financing
and structuring through Note to Proceed (“NTP”) to Commercial Operation Date (“COD”). Benoy composes teams suitable for all project development and construction tasks. He is also involved in project planning and pipeline financial modeling. He has been part of all sides of the
transaction and this allows him to provide unique perspectives and value.
Benoy has extensive experience in financial engineering to make solar projects profitable.
Before founding Reneu Energy, he was the SREC Trader in the Project Finance Group for SolarCity which merged with Tesla in 2016. He originated SREC trades with buyers and co-developed their SREC monetization and hedging strategy with the senior management of SolarCity to move into the east coast markets.
Benoy was the Vice President at Vanguard Energy Partners which is a national solar installer where he focused on project finance solutions for commercial scale solar projects. He also worked for Ridgewood Renewable Power, a private equity fund, where he analyzed potential investments in renewable energy projects and worked on maximizing the financial return of the projects in the portfolio. Benoy also worked on the sale of all of the renewable energy projects in Ridgewood’s portfolio.
He was in the Energy Structured Finance practice for Deloitte & Touche and in Financial Advisory Services practice at Ernst & Young. Benoy received his first experience in Finance as an intern at D.E. Shaw & Co., which is a global investment firm with 37 billion dollars in investment capital. He has a MBA in Finance from Rutgers University and a BS in Finance and Economics from the Stern School of Business at New York University. Benoy was an Alumni Scholar at the Stern School of Business.
Ray Long leads the American Council on Renewable Energy (ACORE) as President and Chief Executive Officer.
ACORE is the oldest nonprofit organization in the United States dedicated to expanding the use of renewable energy technologies for American homes and businesses. This mission is as important and relevant today as it was back in 2001. As CEO, Long is privileged to lead a team of dedicated professionals and an equally passionate group of members and contributors who enable ACORE’s strategic initiatives.
ACORE’s members operate in all 50 states, and in 2022, they financed, developed, built and owned over 90% of new, utility-scale renewable energy projects. Under Long’s leadership, ACORE continues to expand the framework that has enabled the industry’s growth through bipartisan outreach, accurate and compelling analysis, and effective collaboration.
Long is a respected energy executive, having spent over 25 years representing and growing conventional and renewable energy companies in the United States. Most recently, Long was Senior Vice President of External Affairs and a member of the management team at Clearway Energy. Throughout his career, Long helped to build successful government, regulatory and communications teams, utilizing a campaign management approach to policy and project development challenges.
Long earned a Bachelor of Science degree in Public Policy and Administration from Suffolk University and a Juris Doctor degree from Suffolk University Law School. He lives in Washington, D.C., with his wife.
Website: https://www.reneuenergy.com
Website: https://acore.org/
Linkedin: https://www.linkedin.com/in/ray-long-a89a816/
WRISE 20th Anniversary Gala
Date & Time: Thursday, June 26, 2025 from 6:00 PM to 10:00 PM
Location: Gotham Hall, New York City
Occasion: Celebrating 20 years of championing women and underrepresented groups in the renewable & sustainable energy sector
Host & Highlight: Presented by Women of Renewable Industries & Sustainable Energy (WRISE); evening includes networking, recognition of community leaders, and celebration of industry milestones
The link to register is below.
https://wrise20thanniversarygala.rsvpify.com/?mc_cid=2c22b50623&mc_eid=0dfa02be45&securityToken=qZn8wqQI1mC1uMRPyb08kNwbscQ23wtX
