Greenbacker Renewable Energy Company LLC, a publicly registered, non-traded limited liability company, has purchased the rights to a two-turbine, 5-megawatt wind project named Holiday Hill from Cornerstone Renewables LLC, a renewable energy development company based in Vermont.
Holiday Hill is located in Russell, Massachusetts and is contracted to sell electricity through 25-year offtake agreements with three local utilities. The project reached commercial operations in the fourth quarter of 2019.
With the addition of Holiday Hill, Greenbacker will own approximately 555.1 megawatts of generating capacity (including assets that are to be constructed), comprising 177.2 megawatts of wind facilities, 365.9 megawatts of utility-scale and distributed solar facilities, and 12 megawatts of biomass facilities.
Greenbacker Renewable Energy Company owns a portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable investments. The company launched its initial public offering of shares on April 25, 2014, and had raised approximately $402.3 million, as of September 30, 2019.