Greenbacker buys 10.8-MW solar portfolio in Maryland

Solar system. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.

December 13 (Renewables Now) - New York-based Greenbacker Renewable Energy Company LLC said on Wednesday that it has bought the rights to a 10.8-MW solar portfolio in Maryland from Sol Systems.

The particular portfolio includes the 7.8-MW Project Blue Star and 3-MW Project Phoenix, located in Kent County and Prince Georges County, respectively. The two solar photovoltaic (PV) parks are expected to reach commercial operation by June 2019.

The larger facility is contracted for 25 years with Washington College, while the 3-MW site has a 12-year power purchase agreement (PPA) with a wholly-owned subsidiary of public utility holding company WGL Holdings.

Following the latest purchases, Greenbacker owns about 290 MW of generating capacity, including 228 MW of utility-scale and distributed solar and 62 MW of wind power facilities.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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