Greenbacker buys 7.6-MW solar portfolio in Vermont
Solar array. Author: U.S. Department of Agriculture .
Greenbacker Renewable Energy Company LLC announced on Thursday it has acquired a pre-operational solar portfolio in Vermont with a combined capacity in direct current (DC) of up to 7.6 MW.
The bundle was purchased for an undisclosed amount from Norwich Solar through a wholly-owned subsidiary. The seller will remain as the engineering, procurement and construction (EPC) services provider.
Comprised of nine solar projects with an individual capacity of around 840 kW DC, Greenbacker expects five of them to reach commercial operation by the end of 2022, with the remaining scheduled to come online by the second quarter of 2023.
Once up and running, the solar portfolio will deliver its output to over 30 local farms and dairies under long-term net metering agreements, lowering their power bills.
In addition to generating clean electricity, three of the project sites will also revamp former brownfields, Greenbacker noted.