The board of Greenbacker Renewable Energy Company LLC, a publicly registered, non-traded limited liability company and manager of sustainable infrastructure investments, has approved per share net asset values for the company’s Class A, Class I, and Class C shares of common stock, as of June 30, 2020.
Class A and Class I shares have an $8.63 NAV per share, as of June 30, 2020, which represents an increase of $0.04 per share from the prior quarter’s valuation of $8.59. Shares were originally priced at $10.00 each.
Class C shares have an $8.38 NAV per share, representing a decrease of $0.03 per share from the prior quarter-end’s valuation.
The company said that the difference in the performance of the Class A and Class I shares from the Class C shares is due to the accrual of projected distribution fees, as required by its accounting method.
The board also authorized cash distributions payable on October 1, 2020, November 2, 2020, December 1, 2020 to shareholders of record as of September 30, October 30, 2020, and November 30, 2020, respectively, equaling an annualized distribution rate of 6.42 percent for Class A and Class I shares, and an annualized distribution rate of 6.48 percent for Class C shares.
Greenbacker Renewable Energy Company acquires and manages renewable energy and energy efficiency projects, and other energy-related businesses.