Greenbacker Renewable Energy – Greenbacker Renewable Energy Company, a publicly-registered, non-traded limited liability company, has acquired a 20 megawatt portfolio of previously active solar projects from Utah Energy. The projects, West River Solar and West River Solar II, have a long-term power purchase agreement with Basin Electric Power. The purchase price was not disclosed.
Both projects are located in Pennington County, South Dakota, about one hour from Fall River Solar, an 80-megawatt solar project Greenbacker acquired in late 2020 from the same developer. The West River portfolio is expected to reach commercial operations by December 2022.
“We are very excited to expand consumer access to clean and affordable energy in South Dakota,” said Charles Wheeler, Chief Executive Officer of Greenbacker.
With the acquisition of these projects, Greenbacker will own approximately 1.12 gigawatts of generating capacity (including assets under construction), including 853.6 megawatts of utility and distribution solar resources, 242.6 megawatts of wind resources, 16.0 megawatts of wind power and 6 megawatts of wind ., 1. maintenance of these projects. and biomass facilities of 12.0 megawatts.
Greenbacker Renewable Energy Company acquires and manages renewable energy and energy conservation projects, as well as other energy-related businesses. The company invests in solar and wind plants and then sells the power under long-term contracts to entities such as utilities, municipalities and corporations.
The company has raised $816.6 million in capital from investors from February 2017 to April 2021, with sales for 2021 reaching approximately $481.8 million. As of the first quarter, the company’s investments totaled about $1.1 billion. Greenbacker Renewable Energy Company LLC has announced the purchase of an 11.3-MWdc solar project at project sites in Minnesota, reflecting the company’s land management goals and plans for sheep grazing and pollinator planting.
NEW YORK, Nov. 08, 2021 (GLOBE NEWSWIRE) — Greenbacker Renewable Energy Company LLC (“GREC” or “Greenbacker”), a leading owner and operator of sustainable infrastructure and energy efficiency projects, today announced that it is a wholly owned subsidiary. subsidiary, acquired the former 11.3 MWdc solar project from OneEnergy Renewables (“OneEnergy”). The Philinona project, located in four different locations across Minnesota, builds on Greenbacker’s operations in a state with strong clean energy goals.
This project shows how Greenbacker approaches land management for renewable energy assets. Two of its sites, Stockton and Fountain, will have pollinator-friendly plants planted under an array of solar panels to help support pollinator populations and contribute to a healthy local biosphere. Two other sites, Hazel (near Lanesborough) and Rushford Village, will be planted to provide pasture for the sheep of nearby farmers.
Project land is leased to local farming families and towns, generating reliable income for the landowners over the life of the project. The two countries are also part of an agreement to sell renewable energy credits to Stonyfield Organic, the country’s leading producer of organic yogurt, which is committed to running a milk supply chain with 100% renewable electricity by 2025.
Philinona is scheduled to begin commercial operations in the fourth quarter of 2021, producing clean energy in Fillmore and Winona in eastern Minnesota. On 25 October 2021, the spin-off company, MiEnergy Cooperative, organized a ceremony at the Rushford Village site to mark the completion of the mechanical project.
The project was developed and built by OneEnergy, an experienced developer of community and utility solar projects, and represents Greenbacker’s largest partnership with the company.
“Working on this project with OneEnergy and Stonyfield, two firms focused on healthy people and a healthy planet, was a natural fit,” said Charles Wheeler, CEO of GREC. “Environmental health is a priority for us – a priority that goes hand in hand with being responsible stewards of the land on which our projects are located.
“OneEnergy is pleased to bring the Fillinona projects and further our partnership with Greenbacker and MiEnergy,” said Eric Udelhofen, Chief Development Officer of OneEnergy. “We appreciate the trust our landowners and community partners have placed in us to see projects from inception to operation, and we look forward to staying involved as they transition to serving their communities with the dual purpose of producing clean energy and ecosystem services.”
Each of Filinona’s four locations has the same long-term power purchase agreement (PPA) with MiEnergy, a rural electricity cooperative whose customers will soon begin receiving locally produced clean energy from the project.
“Together with Dairyland Power Cooperative, we were able to enter into this PPA for domestic, renewable energy within our electric service territory,” said Brian Kramber, President and CEO of MiEnergy. “The strategic location of the groups will provide wholesale savings on energy costs that will benefit all members of our partnership.”
Greenbacker’s portfolio of sustainable infrastructure projects includes approximately 2.2 GW of generating capacity (this includes both Philinona and assets under construction). As of 2016, Greenbacker’s real assets generated 3.0 million megawatt hours.
Carbon reductions are calculated using the EPA GHG Equivalency Calculator, which uses the US Avoided Emissions and Generation Rate (AVERT), a weighted average marginal CO2 emission rate, to convert kilowatt-hour reductions into units of avoided carbon dioxide emissions. From 30 June 2021
Green jobs are calculated from the International Renewable Energy Agency’s estimate that one megawatt of renewable energy supports 3.8 jobs. From 30 June 2021
Greenbacker Renewable Energy Company LLC is a publicly traded, non-traded sustainable infrastructure company that acquires and operates profitable renewable energy and other energy-related businesses, including solar and wind farms. We want to invest in high-quality projects that sell clean energy under long-term contracts to highly qualified parties such as utilities, municipalities and corporations. We are long-term owners who strive to be good stewards of the land and responsible members of the communities in which we operate. We believe that our focus on energy production and revenue generation creates value that we can pass on to our shareholders – facilitating the transition to a clean energy future. For more information, visit www.greenbackercapital.com.
OneEnergy Renewables develops and deploys green solar power plants throughout the United States. OneEnergy’s mission is to make clean energy the electricity choice for consumers and utilities. Driven by the belief that the future will run on clean energy, his team works with landowners, communities and utilities to deliver new clean energy solutions. OneEnergy has regional offices in Wisconsin, Oregon, Colorado and Maryland, with headquarters in Seattle, Washington.
MiEnergy Cooperative is a rural cooperative serving more than 18,840 customers in eight counties in southeast Minnesota and northeast Iowa. MiEnergy was formed when Hawkeye REC and Tri-County Electric Cooperative merged in 2017. Both cooperatives trace their roots to the late 1930s.
This news release contains forward-looking statements within the meaning of securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that could cause actual results to differ from those expected at the time the forward-looking statements are made. Although Greenbacker believes that the expectations expressed in such statements are based on reasonable assumptions, it cannot guarantee that the expectations will be met or that deviations will not be material. Greenbacker undertakes no obligation to update any forward-looking statements contained herein to reflect accurate results or changes in expectations.
Greenbacker’s Fillinona Sets Mechanical Completion Eric Udelhofen, director of development for OneEnergy Renewables, speaks at Rushford Village in Fillinona … Greenbacker Renewable Energy Co. LLC announced the completion of a 10 MW portfolio of five community solar projects in southern Colorado.
New York-based Greenbacker acquired projects in 2019 from Human Energy, which maintains engineering, procurement and construction. Greenbacker said the portfolio also comes with long-term subscription contracts and investment-grade rebates under Xcel Energy’s public Solar* Rewards program.
Five community solar projects – Alden, Monte Vista 2, Rock Creek 2, Platteville and Alamosa Solar South – are located in rural areas of the state and serve a variety of customers. This includes residents with reasonable incomes who receive donated solar credits to help lower their monthly electricity bills.
Commercial portfolio subscribers, including school districts, nonprofits and municipalities, will also save on their energy costs and support clean energy without installing their own solar.
Greenbacker said it currently owns about 1.04 GW of generating capacity, including assets under construction. This capacity consists of 773.5 MW of utility and distributed solar power, 242.6 MW of wind power plants, 15.5 MW of battery storage and 12 MW of biomass facilities.
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Joe Bebon is an associate editor at pv magazine USA. Joe has over a decade of experience covering clean energy, including smart grid technology, renewables and alternative fuel vehicles.
The cookie settings on this website are set to “allow cookies” to give you a better browsing experience. If you continue to use this website without changing your cookie settings or clicking “Accept” below, you agree to this. New York, NY, April 08, 2021 (BREAKING NEWS) – Greenbacker Renewable Energy Company LLC (“GREC”), a leading owner and operator of sustainable infrastructure and energy efficiency projects, today announced that through financing, it has acquired 10 MWdc approx
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