Greenbacker Buys To-Be-Constructed Maine Wind Project
Greenbacker Renewable Energy Company LLC, a publicly registered, non-traded limited liability company, has purchased the rights to a 15.3 megawatt to-be-constructed wind project.
Greenbacker Renewable Energy Company LLC, a publicly registered, non-traded limited liability company, has purchased the rights to a 15.3 megawatt to-be-constructed wind project.
The project, dubbed “RoxWind,” is located in Roxbury, Maine and will be developed by Palmer Management Corporation and other parties. RoxWind is contracted to sell electricity through long-term offtake agreements with four local municipal utilities and is expected to reach commercial operations during the third quarter of 2021.
Palmer Management is the management affiliate of Palmer Capital Corporation, which has developed and arranged financing for more than $2.2 billion in non-conventional energy projects from Maine to Hawaii since 1982. As was done with RoxWind, Palmer partners with local parties to assist with a project’s design, permitting, contract execution, construction and operation.
“We are thrilled to continue expanding the scale and geographic diversity of our wind fleet as we acquire our first Maine-based wind facility.” said Charles Wheeler, CEO of Greenbacker.
With the addition of RoxWind, Greenbacker will own approximately 543.1 megawatts of generating capacity (including assets that are to be constructed), comprising 192.5 megawayys of wind facilities, 338.6 megawatts of utility-scale and distributed solar facilities, and 12 megawatts of biomass facilities.
Greenbacker Renewable Energy Company acquires and manages income-generating renewable energy and energy efficiency projects, and other energy-related businesses.
