Greenbacker Renewable Energy Company LLC, a publicly registered, non-traded limited liability company, has purchased Georgia Mountain Community Wind LLC located in Chittenden and Franklin Counties, Vermont for approximately $25.1 million.
The wind farm was originally developed by two local Vermont business owners and was the first commercial-scale wind project in Chittenden and Franklin Counties. The four-turbine, 10-megawatt project sells power and renewable energy credits to the nearby Burlington Electric Department through a 25-year fixed-price power purchase agreement. The facility commenced operations in December 2012 and has been operated continuously since that date.
“Adding a high-quality wind asset in the northeastern United States adds significant financial diversification to Greenbacker’s current portfolio of four commercial-grade wind farms. This wind facility is complementary to the nine solar facilities that the company currently owns and operates in Vermont,” said Greenbacker CEO Charles Wheeler. “We continue to selectively add wind assets, which we believe provide a good seasonal counterbalance to our solar portfolio”.
With this latest purchase, Greenbacker now owns approximately 178.9 megawatts of generating capacity comprised of 55.5 megawatts of wind facilities and 123.4 megawatts of commercial and residential solar facilities.
Greenbacker Renewable Energy Company invests in income-producing renewable energy power plants, energy efficiency projects, and other sustainable investments.