Greenbacker Purchases 50 MW Solar Portfolio of New York Initiatives

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Another Greenbacker Renewable Energy Company LLC solar venture in Washington

Greenbacker Renewable Energy Company LLC (GREC), by an entirely owned subsidiary, has bought three pre-operational, utility-scale solar initiatives in New York from Hecate Energy LLC. Once accomplished, the three initiatives – all positioned in Greene County, in upstate New York – will ship 50 MW AC of solar power to shoppers within the tri-state space.

All three initiatives are slated to achieve business operation in 2023. Each comes with a long-term contract in place with an investment-grade offtaker, which is able to present dependable long-term income to Greenbacker.

The acquisition represents Greenbacker’s second closed transaction with Hecate. Greenbacker additionally has signed agreements with Hecate to develop plenty of extra solar property in New York – a pipeline totaling a whole bunch of MWs of unpolluted energy over the subsequent few years. Previously, GREC had acquired two 20 MW AC utility-scale solar initiatives (Albany 1 and Albany 2) from the developer, each of that are slated to enter business growth in late 2022.

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