Greenbacker Renewable Vitality Secures Utah's Solar Portfolio
Greenbacker Renewable Energy Co. LLC (GREC), owner and operator of projects for sustainable infrastructure and energy efficiency, has acquired an approx. 10 MW DC portfolio of pre-operational solar projects from ReneSola Power, a global solar company, project developer and operator through a wholly owned subsidiary.
The projects, which consist of three floor-mounted commercial decentralized generation sites in Utah, are expected to begin construction in the third quarter and go into commercial operations by the end of the year. The transaction also enables GREC to expand its ongoing relationship with ReneSola Power.
"It is extremely rewarding to be part of building renewable energy access in Utah," said Charles Wheeler, CEO of GREC. “The extensive experience of ReneSola Power was a clear advantage in the development of these solar projects. We look forward to working with them again in future sustainable energy efforts. "
With the acquisition of these projects, Greenbacker has a generation and storage capacity of approximately 1.10 GW (including the assets to be built), 827.4 MW of utility-scale solar systems and decentralized systems, 242.6 MW of wind turbines and 16 MW of battery storage includes and 12 MW biomass plants.
The projects with two business partners over 20-year leasing contracts for solar systems achieved a strong acceptance.
Photo: Charles Wheeler
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