Greenbacker Renewable Energy has acquired the rights to 21.8MW portfolio of three solar projects in Camden, Jamesville and Martin counties, North Carolina from SunEnergy1.
Image: Greenbacker acquires three US solar plants. Photo: Courtesy of ced dec/FreeImages.com
Construction of the facilities has commenced, with closings to take place upon their reaching mechanical completion. All three facilities are expected to achieve commercial operations in early next year. The Company is currently working to arrange back leverage financing as well as tax equity financing. Once operational, the SE Solar Portfolio will sell all power generated to an investment grade utility off taker through a 15-year fixed price PPA.
Greenbacker CEO Charles Wheeler said: “With the SE Solar Portfolios, we continue to focus on solar assets in North Carolina which provides significant long-term value to our investors.
“Over the coming year, we expect to expand the Company’s investment in pre-operational solar assets as we grow our solar portfolio.”
With the addition of the SE Solar Portfolio assets, the Company will own approximately 278.7MW of generating capacity (including assets in development and construction) comprising 61.5MW of wind facilities and 217.2MW of commercial and residential solar facilities.
Source: Company Press Release