Greenbacker Renewable Energy Company LLC, a non-traded limited liability company focused on green energy investments, has purchased a 54-megawatt, pre-operational wind farm from PowerWorks, a developer, owner and operator of renewable wind farms.
The wind farm, Panther Creek, is Greenbacker’s first wind energy asset in Illinois and was purchased through a wholly owned subsidiary.
Including this transaction, Greenbacker has over 190 megawatts of operating wind assets. Located in Pike County, the project will be Greenbacker’s largest clean energy asset in Illinois.
“We’re thrilled that our partnership with PowerWorks has enabled Greenbacker’s wind fleet to expand into new territory in a big way,” said Charles Wheeler, chief executive officer of Greenbacker. “Not only is Panther Creek our first wind asset delivering cheaper, clean energy in the Illinois market, once complete it will also be our largest wind project in the entire Midwestern region.”
Panther Creek is in the final stages of design and development and is anticipated to reach commercial operation in 2024. Once completed, the wind farm is expected to produce enough clean energy to offset over 130,000 metric tons of carbon a year.
“We are very pleased to announce our partnership with Greenbacker and this exciting advancement for the Panther Creek Wind Project,” said Morgan McGovert, senior vice president of PowerWorks. “Panther Creek is a wonderful asset for the community, bringing clean and reliable energy, new jobs and economic opportunities for many years to come.”
Greenbacker’s fleet of sustainable infrastructure projects comprises more than 2.9 gigawatts of generating capacity. The company said that since 2016, its real assets have produced more than 4.9 million megawatt-hours of clean energy, abating nearly 3.5 million metric tons of carbon, and supporting more than 5,200 green jobs.
Greenbacker Renewable Energy Company seeks to invest in projects that sell clean power under long-term contract to counterparties such as utilities, municipalities and corporations.