With the addition of RoxWind, Greenbacker will own approximately 543.1MW of generating capacity
Greenbacker Renewable Energy Company LLC (“the Company”) announced today that, through a wholly-owned subsidiary, it purchased the rights to a 15.3 MW to-be-constructed wind project, (“RoxWind”) developed by Palmer Management Corporation (“Palmer”) and other parties. Located in Roxbury, Maine, RoxWind is contracted to sell electricity through long-term offtake agreements with four local municipal utilities. The project is expected to reach COD in Q3 2021.
“We are thrilled to continue expanding the scale and geographic diversity of our wind fleet as we acquire our first Maine-based wind facility.” said Charles Wheeler, CEO of Greenbacker. “It has been a pleasure working with the Palmer team on this deal and we look forward to continuing to work with them and the Town of Roxbury through the construction and start-up phases of the project.”
“This has been a cooperative effort with our Maine and Massachusetts partners, Horseshoe Valley Wind and Solaya Energy, as well as the Town of Roxbury which has been supportive of our efforts to bring a small wind farm on line in Roxbury,” stated Gordon Deane, President of Palmer. “We expect this transaction to be the first of many with Greenbacker as they expand their portfolio of renewable energy projects.”
With the addition of RoxWind, Greenbacker will own approximately 543.1 MW of generating capacity (including assets that are to be constructed), comprising 192.5 MW of wind facilities, 338.6 MW of utility-scale and distributed solar facilities, and 12.0 MW of biomass facilities.
Sheppard Mullin Richter & Hampton LLP was the legal advisor to Greenbacker for this transaction.
Source: Company Press Release