The solar project has a 20-year power purchase agreement with the utility Black Hills Power
(Credit: PublicDomainPictures from Pixabay)
Greenbacker Renewable Energy Company announced that it has acquired a yet to be constructed 80MW solar project from Broad Reach Power in the US.
Through its wholly-owned subsidiary, the company has purchased the project named Fall River Solar.
The project seller is a Houston-based company that owns a 5GW portfolio of utility scale solar and energy storage power projects in Montana, California, Wyoming, Utah and Texas.
Located in Fall River County, South Dakota, the solar project has a 20-year power purchase agreement (PPA) with the utility Black Hills Power.
The construction of the project, which will be overseen by Greenbacker, is expected to be completed in 2022.
Greenbacker CEO Charles Wheeler said: “We’re excited to have worked with Broad Reach Power on our largest solar project to date.
“Expanding our solar portfolio in South Dakota will provide a clean energy option and a source for local employment in the state.
“We see tremendous potential in large scale pipeline investments such as Fall River Solar for both the people of South Dakota and our shareholders.”
Greenbacker to increase generating capacity to 753MW
After acquiring the Fall River Solar project, Greenbacker will have a total generating capacity of approximately 753.5MW, which also includes assets that are yet to be constructed.
The portfolio includes 529.8MW of utility-scale and distributed solar facilities, 192.6MW of wind facilities, 19.1 MW of battery storage and 12.0MW of biomass facilities.
In September, Greenbacker has acquired the Rawhide Prairie Solar project located in Larimer County, Colorado, US.
The transaction consists of acquisition of rights to a 29MW pre-operational solar project in combination with 1.3MW of battery storage.