Greenbacker Plans to Purchase Residential Solar Portfolio

Greenbacker Renewable Energy Company LLC, a publicly registered, non-traded limited liability company, is planning to purchase 747 residential photovoltaic solar systems from One Roof Energy Inc. for $8 million, according to a filing with the Securities and Exchange Commission.

The portfolio is located in Hawaii, Massachusetts, New Jersey, Arizona, California, New York, Connecticut, and Maryland, and has a total generating capacity of 6.219 megawatts DC. The transaction is expected to close in several tranches, and must be approved by One Roof shareholders at their annual meeting scheduled next month.

As reported by The DI Wire last month, Greenbacker’s board approved a net asset value of $8.69 per share for class A and class I shares, and $8.44 per share for class C shares.

In other Greenbacker news, the company recently scheduled its 2017 annual meeting of shareholders on May 8, 2017 at 9:00 a.m. ET at the offices of the company’s legal counsel, Alston & Bird LLP, located at 90 Park Avenue in New York City.

Greenbacker Renewable Energy Company LLC invests in income-producing renewable energy power plants, energy efficiency projects and other sustainable investments. Based in New York City, the company operates solar and wind facilities throughout the United States and Canada, and oversees a $100+ million portfolio of alternative energy assets.