Greenbacker Renewable Energy acquires 15-project portfolio in New England

Greenbacker Renewable

The Greenbacker Renewable Energy Company, an owner and operator of sustainable infrastructure and energy efficiency projects, has acquired NextSun Energy‘s 15-project solar portfolio. Greenbacker’s NextSun operating portfolio, totaling 19.5 MWdc of clean power generation capacity, expands its footprint in New England and includes the company’s first asset in Rhode Island (North Smithfield, 1.1 MWdc).  

The portfolio’s component projects generate power ranging from 0.6 MWdc to 5.0 MWdc. All the projects were completed by the fourth quarter of 2013 and reached commercial operation by the first quarter of 2017. There are long-term power purchase agreements with utilities, municipalities, and businesses for all the projects.  

“As Greenbacker’s clean energy contributions to New England’s power generation landscape continue to grow, we’re particularly excited to announce our first renewable energy asset in Rhode Island,” said Charles Wheeler, CEO of GREC. “This portfolio also represents a successful collaboration with the solar development experts at NextSun Energy, with whom we look forward to partnering again in the future.”

“With the recent sale of our operating portfolio to GREC, we now have the ability to focus all of our bandwidth directly on developing future solar and battery energy storage systems,” said Jake Laskin, President of NextSun. “We couldn’t be happier with the partnership we have created with the folks at GREC and certainly look forward to working together again.”

With the acquisition of these projects, Greenbacker now owns approximately 2.2 GW of generating capacity (including assets that are yet to be constructed). Since 2016, Greenbacker’s assets have generated 3.0 million MWh of clean energy, abating 2.1 million metric tons of carbon. Today these projects support 2,700 green jobs.

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