January 3 (Renewables Now) - New York-based Greenbacker Renewable Energy Company LLC has acquired Wagner Wind LLC, the owner of a 6-MW wind park in California.
The entity was purchased by Munich-based BayWa re renewable energy GmbH, the renewables arm of German diversified group BayWa AG (ETR:BYW6), Greenbacker said on Friday.
Situated in Palm Springs, the 6-MW Wagner wind farm is generating power for the City of Riverside, California and operates under a 20-year power purchase agreement (PPA), about 15 years of which are outstanding as of the acquisition date. The plant was developed and built by BayWa and has been operational since end-2012. The German firm is also operating the two Vestas V90 3-MW turbines.
Following the deal, Greenbacker owns 61.5 MW of wind power assets.
“As we strategically expand our portfolio of wind assets, we continue to focus on the broader strategy of acquiring premier commercial renewable energy assets with high-quality off-takers,” Greenbacker’s CEO Charles Wheeler said. Last week, the company bought a 26-MW construction-ready solar project in California from Solar Frontier Americas Holdings LLC.