Greenbacker Renewable Energy has acquired all of the equity of SunFarm V and Sun Farm VI (SunFarm Portfolio), totaling 13.9MW, in North Carolina, US.


Image: Greenbacker acquires two solar plants. Photo: Courtesy of Ben Schonewille/

The SunFarm Portfolio consists of 2 solar photovoltaic systems comprising 13.9MW located in Perquimans County, North Carolina. The projects will be placed in service in the fourth quarter of this year and sell power to an investment grade utility off-taker through a 15-year fixed price power purchase agreement.

Greenbacker CEO Charles Wheeler said: “With the SunFarm Portfolio, we add two solar assets, with an investment-grade utility off-taker, to the Company’s portfolio of solar assets in North Carolina adding to our regional presence and allowing for increased operational efficiencies.

“We continue to evaluate numerous high-quality alternative energy opportunities with a focus on investing the majority of our available cash balances over the coming months in new projects.”

With the addition of these two solar assets, the Company now owns approximately 278.7MW of generating capacity (including ‘to be constructed’ assets) comprising 61.5MW of wind facilities and 217.2MW of commercial and residential solar facilities.

Source: Company Press Release