Through a wholly owned subsidiary, Greenbacker Renewable Energy Company LLC, an owner and operator of sustainable infrastructure and energy efficiency projects, has purchased two pre-operational solar projects located at Denver International Airport (DEN) from Oak Leaf Energy Partners.
The projects, DIA 7 and DIA 8 (12.4 MW DC and 6.0 MW DC, respectively), join several operational solar assets that Greenbacker owns at the airport – including two community solar gardens – adding scale to the company’s national solar operations and increasing its already substantial presence in Colorado.
The acquisition of two additional assets onsite at the airport, one of the busiest in the country, holds special appeal for Greenbacker. Because DIA 7 and DIA 8 are co-located with a number of existing projects in Greenbacker’s renewable energy fleet, operations and management costs will be less than they would be for new assets built on separate sites.
“We consider it a privilege to be part of a clean energy future for Denver International Airport,” says Charles Wheeler, CEO of GREC. “Our ongoing partnership with Oak Leaf Energy Partners continues to expand access to renewable energy across Colorado, and their extensive solar development experience was a distinct benefit to these projects.”
“We are pleased to continue our strong partnership with both DEN and Greenbacker,” mentions John Hereford, CEO of Oak Leaf. “These relationships have allowed us to collectively pursue important solar projects that directly address Mayor Hancock’s sustainability objectives for the airport and the City of Denver.”
“Sustainability is one of the guiding principles in our Vision 100 plan which will help prepare the airport for 100 million passengers in approximately 10 years,” said DEN CEO Phil Washington. “These additional solar projects will help us improve the sustainability of our energy supply while helping us reach our goal of becoming one of the greenest airports in the world.”
Both DIA 7 and DIA 8 have long-term power purchase agreements in place with an investment-grade offtaker – the airport itself. Construction began on DIA 7 in the first quarter of 2021, with the project slated to enter commercial operation in the first quarter of 2022. Construction on DIA 8 is expected to start in the first quarter of 2022, with the project set to reach commercial operation in the third quarter of that year.