Greenbacker Renewable Energy Company LLC (“the Company”) announced that, through a wholly-owned subsidiary, it purchased the rights to a 21.2 megawatt (MW) portfolio of six distributed solar projects (“DG Solar Portfolio”) from a subsidiary of Clearway Energy Group LLC (“Clearway”).

The DG Solar Portfolio projects, which are located in California, New Jersey and Maryland, are expected to reach commercial operation between June 2019 and March 2020.

Clearway will oversee the delivery of the projects to the Company who will be the owner and operator.

DG Solar Portfolio consists of 5.5 MW in California, 2.7 MW in New Jersey and 13.0 MW in Maryland and is comprised of a mix of ground mount and rooftop systems. DG Solar Portfolio is contracted with facility power purchase agreements for 20 to 25 years. The counterparties include Waste Management of Alameda County, Inc., LafargeHolcim and other investment grade rated commercial and industrial offtakers.

With the addition of the DG Solar Portfolio, the Company will own approximately 378 MW of generating capacity (including assets that are to be constructed) comprising 62 MW of wind facilities and 316 MW of utility-scale and distributed solar facilities.

Tags:
M&A   Solar   Greenbacker Renewable Energy Company   Clearway Energy Group  

Comment on this story


ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com
Energy-Regulatory-Specialist -- Other -- Other
More Stories on RetailEnergyX.com:
Retail Supplier Expands Program To Offer Power To Tesla Battery Customers '
FT: Mitsubishi-Backed Retail Supplier 'Prepares Bid' For International Retail Supplier With U.S. Arm
Shell Acquiring 250,000 Customers From U.K. Supplier;' Octopus Acquiring 580,000 Customers
UK Retail Supplier With US Affiliate In Talks To Secure 'New Funding'; Wholesale Prices Challenge
Wells Fargo Selects Developer For Distributed Solar, Including In Texas '