Solar Maverick Podcast SMP 206: The Future of Utility-Scale Solar: Wood Mackenzie on Market Trends and Tariff Pressures
In this episode of the Solar Maverick Podcast, host Benoy Thanjan speaks with Sylvia Leyva Martinez, Principal Analyst and Senior Research Manager at Wood Mackenzie and host of The Interchange: Recharged podcast. Sylvia specializes in utility-scale solar and shares valuable insights on the evolving landscape of the solar industry.
Topics Covered Include:
- The impact of tariffs on solar equipment and the broader market
- Key trends driving the utility-scale solar sector
- Policy and regulatory developments to watch
- Sylvia’s long-term outlook for solar deployment and adoption
Benoy Thanjan
Benoy 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.
Sylvia Leyva Martinez
Sylvia is a Principal Analyst (Senior Research Manager) at Wood Mackenzie, a leading global provider of data, analysis, and consulting services to the energy, chemicals, metals, and mining sectors. With over 9 years of experience in renewable energy finance and strategy, Sylvia lead the research and analysis of the North American utility-scale solar market, delivering insights and recommendations to clients across the industry value chain. As part of my role at WoodMac, Sylvia is currently the host of The Interchange Recharged podcast, where every two weeks I do a deep dive into the main policies, actors, and issues shaping the energy transition.
My core competencies include solar capacity forecasting, market trend adoption, supply chain dynamics, procurement strategy development, contract structure evolution, renewable asset valuation, risk mitigation strategies, debt-equity structures, and alternative financing. Syliva also has a strong background in power market modeling, transaction support, and due diligence of solar, wind, and storage assets in North America and Latin America.
Sylvia holds a Master's degree in Renewable Energy from EPF - Ecole d'Ingénieur-e-s in France and a Bachelor's degree in Engineering Physics from ITESM Monterrey in Mexico. Sylvia is fluent in Spanish, English, and French. Sylvia is a seasoned public speaker with experience presenting at international conferences, and to C-suite and senior stakeholders. Sylvia is a people-first, value-driven manager and a leader deeply invested in my team. Sylvia is passionate about supporting women (within the renewables space and beyond), advancing the transition to a low-carbon economy, and empowering stakeholders to make informed and sustainable decisions.
Stay Connected:
Benoy Thanjan
Email: info@reneuenergy.com
LinkedIn: Benoy Thanjan
Website: https://www.reneuenergy.com
Sylvia Leyva Martinez
Linkedin: https://www.linkedin.com/in/solarsylvia/
Website: https://www.woodmac.com/
Host of the Interchange Recharged podcast:
https://www.woodmac.com/podcasts/the-interchange-recharged/
Solar & Energy Storage Summit 2025 organized by Wood Mackenzie
23 to 24 April 2025
Denver, CO
https://www.woodmac.com/events/solar-energy-storage-summit/
Thank you to AMS Renewable Energy for Sponsoring this Episode of the Solar Maverick Podcast!
This episode of the Solar Maverick Podcast is brought to you by our sponsor—AMS Renewable Energy.
AMS is a top-tier solar EPC that operates with the precision and mindset of a commercial general contractor. Headquartered in the Bronx, New York—and licensed nationwide—AMS has over 30 years of construction experience, tackling even the most complex solar projects with unmatched expertise and craftsmanship.
Whether it’s a challenging C&I rooftop, ground mount, or full turnkey solution, AMS is committed to best-in-class service and results that last.
If you're looking for a solar EPC partner who understands construction inside and out—AMS Renewable Energy should be at the top of your list.
Learn more at [ams-renewable.com] and tell them the Solar Maverick sent you!
Mid-Atlantic Solar & Storage Insight Conference
Benoy Thanjan will be hosting a live Solar Maverick Podcast Interview at Mid-Atlantic Solar & Storage Insight Conference on May 6, 2025 in New Brunswick, NJ. The link is below.
https://whova.com/web/AVRBHPdoRkL-XvNBu2m3OvHy6VIA89QrX7muVARCKeo=/
Summer Solstice Fundraiser
Join Reneu Energy, Positive Deviancy, and the Solar Maverick Podcast for the 2025 Summer Solstice Fundraiser!
Celebrate the warm weather with us at the Summer Solstice Fundraiser, hosted by Reneu Energy, Positive Deviancy ,and the Solar Maverick Podcast. This special evening will take place on Thursday, June 5th, from 6 PM to 10 PM at Hudson Hall in Jersey City, NJ. We'll also be raising funds for the Let's Share the Sun Foundation, which aids impoverished communities in harnessing solar energy.
Event Highlights:
-Venue: Hudson Hall, a Czech biergarten and smokehouse co-owned by Benoy, CEO of Reneu Energy.
-Time: 6 PM to 10 PM, with delicious food throughout the evening.
-Tickets: $50
https://www.tickettailor.com/events/reneuenergy/1653652
In this episode of the Solar Maverick Podcast, host Benoy Thanjan speaks with Sylvia Leyva Martinez, Principal Analyst and Senior Research Manager at Wood Mackenzie and host of The Interchange: Recharged podcast. Sylvia specializes in utility-scale solar and shares valuable insights on the evolving landscape of the solar industry.
Topics Covered Include:
- The impact of tariffs on solar equipment and the broader market
- Key trends driving the utility-scale solar sector
- Policy and regulatory developments to watch
- Sylvia’s long-term outlook for solar deployment and adoption
Benoy Thanjan
Benoy 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.
Sylvia Leyva Martinez
Sylvia is a Principal Analyst (Senior Research Manager) at Wood Mackenzie, a leading global provider of data, analysis, and consulting services to the energy, chemicals, metals, and mining sectors. With over 9 years of experience in renewable energy finance and strategy, Sylvia lead the research and analysis of the North American utility-scale solar market, delivering insights and recommendations to clients across the industry value chain. As part of my role at WoodMac, Sylvia is currently the host of The Interchange Recharged podcast, where every two weeks I do a deep dive into the main policies, actors, and issues shaping the energy transition.
My core competencies include solar capacity forecasting, market trend adoption, supply chain dynamics, procurement strategy development, contract structure evolution, renewable asset valuation, risk mitigation strategies, debt-equity structures, and alternative financing. Syliva also has a strong background in power market modeling, transaction support, and due diligence of solar, wind, and storage assets in North America and Latin America.
Sylvia holds a Master's degree in Renewable Energy from EPF - Ecole d'Ingénieur-e-s in France and a Bachelor's degree in Engineering Physics from ITESM Monterrey in Mexico. Sylvia is fluent in Spanish, English, and French. Sylvia is a seasoned public speaker with experience presenting at international conferences, and to C-suite and senior stakeholders. Sylvia is a people-first, value-driven manager and a leader deeply invested in my team. Sylvia is passionate about supporting women (within the renewables space and beyond), advancing the transition to a low-carbon economy, and empowering stakeholders to make informed and sustainable decisions.
Stay Connected:
Benoy Thanjan
Email: info@reneuenergy.com
LinkedIn: Benoy Thanjan
Website: https://www.reneuenergy.com
Sylvia Leyva Martinez
Linkedin: https://www.linkedin.com/in/solarsylvia/
Website: https://www.woodmac.com/
Host of the Interchange Recharged podcast:
https://www.woodmac.com/podcasts/the-interchange-recharged/
Solar & Energy Storage Summit 2025 organized by Wood Mac
23 to 24 April 2025
Denver, CO
https://www.woodmac.com/events/solar-energy-storage-summit/
Thank you to AMS Renewable Energy for Sponsoring this Episode of the Solar Maverick Podcast!
This episode of the Solar Maverick Podcast is brought to you by our sponsor—AMS Renewable Energy.
AMS is a top-tier solar EPC that operates with the precision and mindset of a commercial general contractor. Headquartered in the Bronx, New York—and licensed nationwide—AMS has over 30 years of construction experience, tackling even the most complex solar projects with unmatched expertise and craftsmanship.
Whether it’s a challenging C&I rooftop, ground mount, or full turnkey solution, AMS is committed to best-in-class service and results that last.
If you're looking for a solar EPC partner who understands construction inside and out—AMS Renewable Energy should be at the top of your list.
Learn more at [ams-renewable.com] and tell them the Solar Maverick sent you!
Mid-Atlantic Solar & Storage Insight Conference
Benoy Thanjan will be hosting a live Solar Maverick Podcast Interview at Mid-Atlantic Solar & Storage Insight Conference on May 6, 2025 in New Brunswick, NJ. The link is below.
https://whova.com/web/AVRBHPdoRkL-XvNBu2m3OvHy6VIA89QrX7muVARCKeo=/
Summer Solstice Fundraiser
Join Reneu Energy, Positive Deviancy, and the Solar Maverick Podcast for the 2025 Summer Solstice Fundraiser!
Celebrate the warm weather with us at the Summer Solstice Fundraiser, hosted by Reneu Energy, Positive Deviancy ,and the Solar Maverick Podcast. This special evening will take place on Thursday, June 5th, from 6 PM to 10 PM at Hudson Hall in Jersey City, NJ. We'll also be raising funds for the Let's Share the Sun Foundation, which aids impoverished communities in harnessing solar energy.
Event Highlights:
-Venue: Hudson Hall, a Czech biergarten and smokehouse co-owned by Benoy, CEO of Reneu Energy.
-Time: 6 PM to 10 PM, with delicious food throughout the evening.
-Tickets: $50
https://www.tickettailor.com/events/reneuenergy/1653652