Vermont Business MagazineGreenbacker Renewable Energy Company LLC of New York City has acquired Georgia Mountain Community Wind LLC, located in Chittenden and Franklin Counties,for approximately $25,100,000. GMCW was the first commercial-scale wind project in these counties. This four-turbine, 10 MW project, which was originally developed by DavidBlittersdorf, owner of AllEarth Renewables, and a partner. Itsells all of the power, as well as the Renewable Energy Credits (“RECs”), toBurlington Electric Department through a 25-year fixed-price power purchase agreement. The facility originally commenced operations on December 31, 2012 and has been operated continuously since that date.The transaction was executed on December 21, 2017, through a wholly-owned subsidiary ofGreenbacker.
“Adding a high-quality wind asset in the northeastern United States adds significant financial diversification to Greenbacker’s current portfolio of four commercial-grade wind farms. This wind facility is complementary to the nine solar facilities that the Company currently owns and operates in Vermont,” stated Charles Wheeler, CEO of Greenbacker. “We continue to selectively add wind assets, which we believe provide a good seasonal counterbalance to our solar portfolio.”
David Blittersdorf, AllEarth Renewables
With the addition of these solar assets, the Company now owns approximately 178.9 MW of generating capacity comprising 55.5 MW of Wind facilities and 123.4 MW of commercial and residential solar facilities.
About Greenbacker Renewable Energy Company
Greenbacker Renewable Energy Company LLC is a publicly registered, non-traded limited liability company that expects to acquire a diversified portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable investments.
Source:NEW YORK--(BUSINESS WIRE)--Greenbacker Renewable Energy Company LLC 12.22.2017