Greenbacker Renewable Energy Co. LLC, an owner and operator of sustainable infrastructure and energy efficiency projects, says a wholly owned subsidiary has purchased a 15-project solar portfolio from NextSun Energy.
The portfolio, which totals 19.5 MW DC of generating capacity, expands Greenbacker’s footprint in New England and includes the company’s first asset in Rhode Island (North Smithfield, 1.1 MW DC).
The portfolio’s projects range from 0.6 MW DC to 5 MW DC. They all reached commercial operations between the fourth quarter of 2013 and the first quarter of 2017, and all come with long-term power purchase agreements already in place with utilities, municipalities and businesses.
“As Greenbacker’s clean energy contributions to New England’s power generation landscape continue to grow, we’re particularly excited to announce our first renewable energy asset in Rhode Island,” says Charles Wheeler, CEO of GREC. “This portfolio also represents a successful collaboration with the solar development experts at NextSun Energy, with whom we look forward to partnering again in the future.”
“With the recent sale of our operating portfolio to GREC, we now have the ability to focus all of our bandwidth directly on developing future solar and battery energy storage systems,” states Jake Laskin, president of NextSun. “We couldn’t be happier with the partnership we have created with the folks at GREC and certainly look forward to working together again.”
Including the acquisition of these projects, Greenbacker’s fleet of sustainable infrastructure projects comprises approximately 2.2 GW of generating capacity (including assets that are to be constructed). Since 2016, Greenbacker’s real assets have generated 3 MWh of clean energy, abating 2.1 million metric tons of carbon.