SMP 241: Solstice: Turning RECs into Community Impact

Episode Summary: In this episode, Benoy Thanjan sits down with Sandhya Murali, Co-Founder & CEO of Solstice, and Sam Cote, Account Executive, to discuss the launch of Solstice’s groundbreaking Community Benefit REC program.  It is an innovative structure that channels corporate sustainability investments directly into underserved communities. The program debuted in 2024 with Microsoft as one of the first pilot customers, marking a new chapter where renewable-energy certificates fund measurable social and economic impact. Sandhya and Sam share how this approach lets corporations, developers, and municipalities align ESG goals with local benefits, promote equitable clean-energy access, and strengthen the connection between clean power and social outcomes. Biographies Benoy Thanjan Benoy Thanjan is the Founder and CEO of Reneu Energy, solar developer and consulting firm, and a strategic advisor to multiple cleantech startups. Over his career, Benoy has developed over 100 MWs of solar projects across the U.S., helped launch the first residential solar tax equity funds at Tesla, and brokered $45 million in Renewable Energy Credits (“REC”) transactions. Prior to founding Reneu Energy, Benoy was the Environmental Commodities Trader in Tesla’s Project Finance Group, where he managed one of the largest environmental commodities portfolios. He originated REC trades and co-developed a monetization and hedging strategy with senior leadership to enter the East Coast market. As Vice President at Vanguard Energy Partners, Benoy crafted project finance solutions for commercial-scale solar portfolios. His role at Ridgewood Renewable Power, a private equity fund with 125 MWs of U.S. renewable assets, involved evaluating investment opportunities and maximizing returns. He also played a key role in the sale of the firm’s renewable portfolio. Earlier in his career, Benoy worked in Energy Structured Finance at Deloitte & Touche and Financial Advisory Services at Ernst & Young, following an internship on the trading floor at D.E. Shaw & Co., a multi billion dollar hedge fund. Benoy holds an MBA in Finance from Rutgers University and a BS in Finance and Economics from NYU Stern, where he was an Alumni Scholar. Sandhya Murali Co-Founder & CEO Responsible for finances, product development, solar developer relationships, and financial inclusion. Sandhya began her career in Barclays’ investment banking division in New York and London, advising on and executing public equity transactions for Technology, Media and Telecom companies, and was also deeply involved in Barclays Philanthropy. Her volunteer work included Endeavor, Women’s World Banking, and Barclays’ Social Innovation Fund. During graduate school, Sandhya worked at Buen Power Peru, a for-profit social enterprise that distributes solar lamps and water heaters to off-grid communities in Peru. She holds a BBA from the University of Michigan and an MBA from the MIT Sloan School of Management, where she received the Sustainability Certificate. Sam Cote Enterprise Account Executive Sam Cote is an Account Executive at Solstice, connecting the benefits of renewable energy to underserved communities through community solar and clean energy procurement. A former journalist who pivoted her career to focus on social and environmental impact, she is a talented project manager and communicator who drives strategic projects for community benefit. In her startup career, she’s supported revenue diversification through business plan development and implementation and subsequent new product sales, she’s previously been responsible for fundraising, managing acquisition and post-merger integration processes, contracting, grant-writing, and full-cycle recruiting – among other demands of supporting a hybrid social enterprise. Sam is proudly from the great state of Maine and a graduate of Boston University with a B.S. in Broadcast Journalism.   Stay Connected: Benoy Thanjan Email: [email protected]  LinkedIn: Benoy Thanjan Website: https://www.reneuenergy.com   Sandhya Murali  Linkedin: https://www.linkedin.com/in/sandhyamurali/  Website:  https://solstice.us/       Sam Cote Linkedin:  https://www.linkedin.com/in/samcotesolar/ Website:  https://solstice.us/   Previous episodes of the Solar Maverick Podcast with Solstice https://solarmaverick.podbean.com/e/smp-158-how-solstice-differiates-from-other-customer-acquisiton-and-management-company/ https://podcasts.apple.com/us/podcast/solar-maverick-podcast/id1441876259?i=1000516940347