Greenbacker Buys Pair of Operational Wind Assets in Minnesota
Greenbacker Renewable Energy Company, a publicly registered, non-traded limited liability company, has purchased two operating wind assets in Murray County, Minnesota, from PRC Wind.
Greenbacker Renewable Energy Company, a publicly registered, non-traded limited liability company, has purchased two operating wind assets in Murray County, Minnesota from PRC Wind for an undisclosed price.
With these projects, Ridgewind (25.3 megawatts) and WindShare (5.4 megawatts), Greenbacker continues to expand its presence in the North Star State and diversify its wind portfolio in the Midwest. Greenbacker now owns three wind farms in Minnesota, as well as three operating wind assets nearby in Iowa.
Ridgewind is an 11-turbine system that entered commercial operation in January 2011. It has a power purchase agreement in place with Xcel Energy – Minnesota. The company has a target to reduce carbon emissions 80 percent by 2030 (from 2005 levels) corporate-wide and a vision to deliver 100 percent carbon-free electricity to its customers by 2050.
WindShare, a three-turbine system that currently operates on a fully merchant basis, reached commercial operation in April 2006.
Including the acquisition of these projects, Greenbacker’s fleet of sustainable infrastructure projects comprises approximately 2.2 gigawatts of generating capacity, including assets that are to be constructed.
Since 2016, Greenbacker said that its real assets have generated 3 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.
