Greenbacker Renewable Energy announced that, through a wholly-owned subsidiary, it signed an agreement to purchase the managing member interest to a 6.3MW portfolio of two utility scale solar projects from Melink.
Image: Greenbacker acquired solar energy projects from Melink. Photo: Courtesy of American Public Power Association on Unsplash.
The Rockville Portfolio projects have been operating since 2014.
The projects consist of a 3.1 MW site ground-mounted project and a 3.2 MW roof-mounted project, both located in Indianapolis, Indiana. The projects are contracted for 15 years through power purchase agreements with Indianapolis Power & Light (“IP&L”) and have approximately 10 years remaining under the contracts.
“With the Rockville Portfolio acquisition, we continue to expand our operating portfolio, adding assets with proven performance,” said Charles Wheeler, CEO of the Company. “We are pleased to continue to execute on our pipeline of operating renewable energy projects which exceed the Company’s investment criteria.”
With the addition of the Rockville Portfolio, the Company will own approximately 377.7MW of generating capacity (including assets that are to be constructed) comprising 61.5MW of wind facilities and 316.2MW of utility-scale and distributed solar facilities.
Source: Company Press Release.