Greenbacker Renewable Energy acquires solar projects at Denver International Airport

Greenbacker Renewable Energy Company has purchased two pre-operational solar projects from Oak Leaf Energy Partners. The projects, 12.4 MWdc DIA 7 and 6.0 MWdc DIA 8, are located at Denver International Airport. Greenbacker’s two community solar gardens at the airport will grow its already substantial presence in Colorado and add to the company’s national solar operations.  

Due to their close proximity to Greenbacker’s other solar and wind energy projects, the assets will experience lower operation and management costs than assets built on their own. The acquisitions also expand Greenbacker’s footprint in a strong solar state.  

“We consider it a privilege to be part of a clean energy future for Denver International Airport,” said Charles Wheeler, CEO of GREC. “Our ongoing partnership with Oak Leaf Energy Partners continues to expand access to renewable energy across Colorado, and their extensive solar development experience was a distinct benefit to these projects.”

“We are pleased to continue our strong partnership with both DEN and Greenbacker,” said John Hereford, CEO of Oak Leaf. “These relationships have allowed us to collectively pursue important solar projects that directly address Mayor Hancock’s sustainability objectives for the airport and the City of Denver.” 

“Sustainability is one of the guiding principles in our Vision 100 plan which will help prepare the airport for 100 million passengers in approximately 10 years,” said DEN CEO Phil Washington. “These additional solar projects will help us improve the sustainability of our energy supply while helping us reach our goal of becoming one of the greenest airports in the world.”

DIA 7 and DIA 8 have long-term PPAs with the airport itself which is an investment-grade offtaker. DIA 7 was initiated in the first quarter of 2021. The commercial operation of the project will start in 2022. DIA 8 is expected to start construction in the first quarter of 2022 and reach commercial operations in the third quarter.

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