Greenbacker Buys 15-Project New England Solar Portfolio
Greenbacker Renewable Energy Company LLC, a publicly registered, non-traded limited liability company, has purchased a 15-project solar portfolio.
Greenbacker Renewable Energy Company LLC, a publicly registered, non-traded limited liability company, has purchased a 15-project solar portfolio from NextSun Energy for an undisclosed price.
The NextSun operating portfolio, which totals 19.5 megawatts of clean power–generating capacity, expands Greenbacker’s footprint in New England.
Greenbacker said that the projects all reached commercial operations between the fourth quarter of 2013 and the first quarter of 2017, and all come with “long-term” power purchase agreements already in place with utilities, municipalities, and businesses.
“As Greenbacker’s clean energy contributions to New England’s power generation landscape continue to grow, we’re particularly excited to announce our first renewable energy asset in Rhode Island,” said Charles Wheeler, chief executive officer.
Including the acquisition of these projects, Greenbacker’s sustainable infrastructure projects comprise approximately 2.2 gigawatts of generating capacity, including assets that are to be constructed.
Greenbacker said that since 2016, its real assets have generated 3.0 million megawatt-hours of clean energy, abating 2.1 million metric tons of carbon, while supporting 2,700 green jobs.
Greenbacker Renewable Energy Company LLC purchases and manages renewable energy and energy efficiency projects, and other energy-related businesses. The projects, which include solar and wind facilities, sell power under long-term contract to high credit worthy counterparties such as utilities, municipalities, and corporations.
