Greenbacker Renewable Energy through its subsidiary Six States Solar has acquired twelve operating solar photovoltaic systems with a total capacity of 4.55MW and located across the states of Arizona, California, Colorado, Connecticut and Indiana.
Image: Solar Panels. Photo: Courtesy of khunaspix/FreeDigitalPhotos.net.
The Six States Solar Portfolio now comprises 14 facilities leased from De Lage Landen Financial Services Inc. (DLL) plus the 12 recently acquired assets. With the addition of these new assets the average remaining life of the various power purchase agreements across the portfolio is approximately 15 years.
Greenbacker CEO Charles Wheeler said: “We saw an opportunity to acquire a portfolio of operating solar assets located in markets we are very familiar with at an attractive price.
“As owner of these assets, Six States Solar will achieve increased cash on cash yields across its portfolio.”
Once the construction of our partially completed facilities in Southern California and Colorado are concluded, the Company will own and operate in excess 256.4 MW of expected generating capacity comprising 61.5 MW of wind facilities and 194.9 MW of commercial and residential solar facilities.
Source: Company Press Release