A subordinate of Missouri-based clean energy start-up Greenbacker Renewable Energy Co.LLC has obtained the rights of three North Carolina Solar projects, which are under construction.
Greenbacker obtained the SE Solar Portfolio from SunEnergy1LLC. The three farms comprising of 21.8 MW, will be commercially operating by early next year.
Grenbacker is working to arrange back leverage and tax financing. Once as it gets completed, the SE Solar portfolio will be selling all the power generated to a utility off-taker with a fixed price PPA for 15 years.
“With the SE Solar portfolios, we continue to focus on solar assets in North Carolina which provides significant long term value to our investors,” said Charles Wheeler, CEO of Greenbacker. “Over the coming year, we expect to expand the company’s investment in pre-operational solar assets as we grow our solar portfolio.”
Along with SE Solar Portfolio assets, Greenbacker owns around 278.7 MW of power generating capacity comprising 61.5 MW of wind facilities and 217.2 MW of commercial and residential solar facilities.
According to its website, Greenbacker has made investments worth $250 million. Earlier in this year, Greenbacker acquired 12 solar photovoltaic systems making it up-to 4.55 MW in Arizona, California, Colorado and Connecticut. Along with this it also owns 61.5 MW of wind energy.