Skip to content

Greenbacker Funds $25.9 Million Turbine Supply Loan for Montana Wind Project

Greenbacker Renewable Energy Company LLC, a publicly registered, non-traded limited liability company that focuses on energy-related investments, provided a $25.9 million turbine supply loan to Greenfield Wind Manager LLC.

The loan will be used to support the construction of a 25 megawatt wind generation facility located in Teton County, Montana. When construction is complete, the facility will consist of 13 General Electric 2.3 megawatt wind turbines which are anticipated to generate enough electricity to power 5,533 homes. The project was developed by San Francisco-based Foundation Windpower LLC in partnership with a local developer.

“We are extremely pleased to be expanding our relationship with Foundation Windpower,” said Charles Wheeler, chief executive officer of Greenbacker. “As we continue to grow our portfolio of alternative energy assets, providing capital to construct a wind generation facility such as the project is another example of how we diversify our revenue streams with a view to providing more predictable returns for our investors.”

The loan is repayable in full when the project reaches its commercial operation date, which is expected to occur no later than December 31, 2016.

Greenbacker Renewable Energy Company expects to acquire a diversified portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable investments.

For more SC Distributors news, visit their directory sponsor page here.