Greenbacker Renewable Energy Company LLC, a publicly registered, non-traded limited liability company, has purchased Wagner Wind LLC from BayWa r.e. for an undisclosed amount.
Wagner Wind is a 6.0 megawatt wind farm located in Palm Springs, California that sells power to Riverside, California on a 20-year power purchase agreement with approximately 15 years remaining as of the acquisition date. BayWa r.e. developed and constructed the facility which it placed in service in the fourth quarter of 2012 and has operated continuously since that time.
“Adding a wind asset contiguous to our Golden Horizons solar facility in Palm Springs provides significant operational efficiencies in the ongoing management of both assets,” commented CEO Charles Wheeler. “As we strategically expand our portfolio of wind assets, we continue to focus on the broader strategy of acquiring premier commercial renewable energy assets with high-quality off-takers.”
Greenbacker has purchased a number of wind and solar projects in recent weeks, including Midway III, a yet-to-be constructed 26-megawatt solar project located in Imperial County, California; Georgia Mountain Community Wind LLC located in Chittenden and Franklin Counties, Vermont; and a portfolio of six solar systems located in Colorado and California.
Greenbacker Renewable Energy Company is a publicly registered, non-traded limited liability company that owns and operates a diversified portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable investments. With this latest acquisition, Greenbacker now owns 61.5 megawatts of wind power assets.