Greenbacker Purchases 50 MW Solar Portfolio of New York Initiatives

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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