Sustainable infrastructure investor Greenbacker Capital Management LLC announced on Tuesday that it has acquired an 8.7-MW direct current (DC) portfolio of three community solar projects in New York.
This bundle of to-be-constructed plants was purchased through an affiliated investment vehicle from solar project developer and operator ReneSola Power Holdings for an undisclosed amount.
Greenbacker expects to start construction on the three community solar parks in early 2023. Once up and running, they should be able to produce enough renewable electricity to meet, on average, the annual demand of 1,653 homes.
All three projects are part of New York’s Value of Distributed Energy Resources (VDER) programme, while two will take part in the utility assistance programme Solar For All.