Greenbacker buys 31.3-MW multistate C&I solar portfolio

New York-based Greenbacker Renewable Energy Company LLC said on Thursday it has acquired the rights to 31.3 MW of commercial and industrial (C&I) portfolio solar projects across several US states.

In a series of deals, the company has expanded its power generation capacity to about 552 MW, including to-be-constructed plants, of which 172.3 MW of wind, 367.7 MW of solar and 12 MW of biomass.

Greenbacker has bought the rights to a 25.6-MW photovoltaic (PV) C&I portfolio from IGS Solar, consisting of projects in the states of California, Colorado, Massachusetts, New Jersey and Washington DC. All of them have in place off-take agreements and will be switched on between the last quarter of 2019 and third quarter of 2020. Separately, Greenbacker has acquired a 5.74-MW solar park at a former landfill site in Brattleboro, Vermont, from Sky Solar. This power plant has been operational since July 2018 and is selling electricity to investment-grade municipalities and schools under 20-year net metering agreements.

Last but not least, Greenbacker said it has partnered with Scenic Hill Solar of a 3.5 MW of solar projects in Arkansas, planned to come online this year. Projects part of the so-called Scenic Hill portfolio are contracted with investment-grade public entities and utilities for 28 years.

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