![\"\"](\"https://greenbackercapital.com/wp-content/uploads/2022/01/Greenbackers-00429-1024x683.jpg\")
Deal with Borrego includes Greenbacker\u2019s first standalone battery storage development assets and two solar portfolios
\n\n\n\n\n\n\n\nNew York, NY, March 1, 2022 — Greenbacker Renewable Energy Company LLC (\u201cGREC\u201d or \u201cGreenbacker\u201d), a leading owner and operator of sustainable infrastructure and energy efficiency projects, announced today that, through a wholly owned subsidiary, it has purchased a pre-operational energy storage portfolio and two pre-operational solar portfolios from Borrego\u2014a leading developer; engineering, procurement, and construction (EPC) provider; and operations and maintenance provider for large-scale renewable energy projects throughout the US. The storage portfolio represents GREC\u2019s first assets in the standalone battery storage development space, a sector critical to greater grid resilience.
\n\n\n\nThe two projects in the storage portfolio, located in New York City, will have a total power capacity of 10 MW and be able to store up to 40 MWh of energy. Both are front-of-meter assets, meaning consumers will access the stored power via the electric grid. Battery storage systems offer distinct benefits for consumers. They can lower electric bills by deploying stored energy during periods of peak demand and improve electric grid resiliency by saving power reserves for specific use during emergencies and power outages. The portfolio also contributes to New York\u2019s energy storage target, which was increased in early 2022\u2014doubling from 3 GW to 6 GW by 2030.1
\n\n\n\n\u201cWe\u2019re thrilled to expand our operational standalone battery storage portfolio to include storage assets in development,\u201d said Charles Wheeler, CEO of GREC. \u201cOur ongoing partnership with Borrego has allowed us to expand into this new market, and we very much look forward to teaming up with them on future opportunities across the renewables asset class.\u201d
\n\n\n\nThe Illinois and Maine portfolios will contribute to cheaper clean energy for consumers across both states. The Illinois portfolio is made up of four distributed community solar projects (totaling roughly 12 MWdc) in the northern part of the state. At least 50% of the portfolio\u2019s consumer base will be allocated to small subscribers, contributing to more equitable renewable energy access. The portfolio will participate in the Illinois Shines solar incentive program, which gives subscribers credits on their power bills for using the projects\u2019 solar energy.2 The projects will also provide income to local landowners through long-term land leases.
\n\n\n\nThe three solar projects in the Maine portfolio, which total around 17 MWdc, are located in separate counties across the state. Two of those projects are community solar and one has a commercial power purchase agreement. Each project is preapproved for the state\u2019s Net Energy Billing program, which was capped in early 2021. The program encourages renewables by allowing consumers to offset their electric bills by the net amount of clean energy they generate on their property or use from community systems.3
\n\n\n\n\u201cIn addition to companies and cities, the clean energy transition should also be accessible to individual consumers,\u201d added Wheeler. \u201cWe\u2019re excited that a portion of clean power from our community solar projects will be designated for small subscribers, driving more equitable access to cheaper clean energy across the country.\u201d
\n\n\n\nBoth the NYC and Illinois portfolios are slated to reach commercial operation in the first half of 2023. The Maine portfolio is expected to enter commercial operation at the end of 2022.
\n\n\n\n“Borrego and Greenbacker have worked together closely for years, and these latest energy storage and community solar transactions mark an exciting new chapter in our partnership,\u201d said Brendan Neagle, EVP of Project Finance at Borrego. \u201cWhile we have been the EPC contractor of record on many Greenbacker projects, this is the first time Greenbacker has bought a significant group of assets from Borrego\u2019s development portfolio.\u201d
\n\n\n\nThe NYC portfolio is set to participate in New York\u2019s Value of Distributed Energy Resources program for standalone battery storage, an incentive that credits energy storage system owners for the electricity they inject into the grid.4
\n\n\n\nGreenbacker\u2019s fleet of sustainable infrastructure projects comprises approximately 2.6 GW of generating capacity (including these portfolios and assets that are to be constructed). Since 2016, Greenbacker\u2019s real assets have produced approximately 3.4 million megawatt-hours5 of clean energy, abating 2.4 million metric tons of carbon.6 Today these projects support 3,200 green jobs.7
\n\n\n\n\n\n\n\n1 \u201cNY-BEST Applauds Governor Hochul\u2019s Energy Storage Initiatives in 2022 State of the State Address,\u201d New York Battery and Energy Storage Technology Consortium, January 5, 2022.
\n\n\n\n2 Illinois Shines website, https://illinoisshines.com/solar-info/.
\n\n\n\n3 Maine state website, https://www.maine.gov/mpuc/regulated-utilities/electricity/neb.
\n\n\n\n4 New York state website, The Value Stack Reference Guide for Energy Storage Developers.
\n\n\n\n5 Data is as of September 30, 2021.
\n\n\n\n6 Carbon abatement is calculated using the EPA Greenhouse Gas Equivalencies Calculator which uses the AVoided Emissions and geneRation Tool (AVERT) US national weighted average CO2 marginal emission rate to convert reductions of kilowatt-hours into avoided units of carbon dioxide emissions. Data is as of September 30, 2021.
\n\n\n\n7 Green jobs are calculated from the International Renewable Energy Agency‘s measurement that one megawatt of renewable power supports 3.8 jobs. Data is as of September 30, 2021.
\nThe post Greenbacker acquires solar and storage portfolios across Illinois, Maine, and New York appeared first on Greenbacker Capital.
\n", "content_text": "Deal with Borrego includes Greenbacker\u2019s first standalone battery storage development assets and two solar portfolios\n\n\n\n\n\n\n\nNew York, NY, March 1, 2022 — Greenbacker Renewable Energy Company LLC (\u201cGREC\u201d or \u201cGreenbacker\u201d), a leading owner and operator of sustainable infrastructure and energy efficiency projects, announced today that, through a wholly owned subsidiary, it has purchased a pre-operational energy storage portfolio and two pre-operational solar portfolios from Borrego\u2014a leading developer; engineering, procurement, and construction (EPC) provider; and operations and maintenance provider for large-scale renewable energy projects throughout the US. The storage portfolio represents GREC\u2019s first assets in the standalone battery storage development space, a sector critical to greater grid resilience.\n\n\n\nThe two projects in the storage portfolio, located in New York City, will have a total power capacity of 10 MW and be able to store up to 40 MWh of energy. Both are front-of-meter assets, meaning consumers will access the stored power via the electric grid. Battery storage systems offer distinct benefits for consumers. They can lower electric bills by deploying stored energy during periods of peak demand and improve electric grid resiliency by saving power reserves for specific use during emergencies and power outages. The portfolio also contributes to New York\u2019s energy storage target, which was increased in early 2022\u2014doubling from 3 GW to 6 GW by 2030.1\n\n\n\n\u201cWe\u2019re thrilled to expand our operational standalone battery storage portfolio to include storage assets in development,\u201d said Charles Wheeler, CEO of GREC. \u201cOur ongoing partnership with Borrego has allowed us to expand into this new market, and we very much look forward to teaming up with them on future opportunities across the renewables asset class.\u201d\n\n\n\nThe Illinois and Maine portfolios will contribute to cheaper clean energy for consumers across both states. The Illinois portfolio is made up of four distributed community solar projects (totaling roughly 12 MWdc) in the northern part of the state. At least 50% of the portfolio\u2019s consumer base will be allocated to small subscribers, contributing to more equitable renewable energy access. The portfolio will participate in the Illinois Shines solar incentive program, which gives subscribers credits on their power bills for using the projects\u2019 solar energy.2 The projects will also provide income to local landowners through long-term land leases.\n\n\n\nThe three solar projects in the Maine portfolio, which total around 17 MWdc, are located in separate counties across the state. Two of those projects are community solar and one has a commercial power purchase agreement. Each project is preapproved for the state\u2019s Net Energy Billing program, which was capped in early 2021. The program encourages renewables by allowing consumers to offset their electric bills by the net amount of clean energy they generate on their property or use from community systems.3\n\n\n\n\u201cIn addition to companies and cities, the clean energy transition should also be accessible to individual consumers,\u201d added Wheeler. \u201cWe\u2019re excited that a portion of clean power from our community solar projects will be designated for small subscribers, driving more equitable access to cheaper clean energy across the country.\u201d\n\n\n\nBoth the NYC and Illinois portfolios are slated to reach commercial operation in the first half of 2023. The Maine portfolio is expected to enter commercial operation at the end of 2022.\n\n\n\n“Borrego and Greenbacker have worked together closely for years, and these latest energy storage and community solar transactions mark an exciting new chapter in our partnership,\u201d said Brendan Neagle, EVP of Project Finance at Borrego. \u201cWhile we have been the EPC contractor of record on many Greenbacker projects, this is the first time Greenbacker has bought a significant group of assets from Borrego\u2019s development portfolio.\u201d\n\n\n\nThe NYC portfolio is set to participate in New York\u2019s Value of Distributed Energy Resources program for standalone battery storage, an incentive that credits energy storage system owners for the electricity they inject into the grid.4\n\n\n\nGreenbacker\u2019s fleet of sustainable infrastructure projects comprises approximately 2.6 GW of generating capacity (including these portfolios and assets that are to be constructed). Since 2016, Greenbacker\u2019s real assets have produced approximately 3.4 million megawatt-hours5 of clean energy, abating 2.4 million metric tons of carbon.6 Today these projects support 3,200 green jobs.7\n\n\n\n\n\n\n\n1 \u201cNY-BEST Applauds Governor Hochul\u2019s Energy Storage Initiatives in 2022 State of the State Address,\u201d New York Battery and Energy Storage Technology Consortium, January 5, 2022.\n\n\n\n2 Illinois Shines website, https://illinoisshines.com/solar-info/.\n\n\n\n3 Maine state website, https://www.maine.gov/mpuc/regulated-utilities/electricity/neb.\n\n\n\n4 New York state website, The Value Stack Reference Guide for Energy Storage Developers.\n\n\n\n5 Data is as of September 30, 2021.\n\n\n\n6 Carbon abatement is calculated using the EPA Greenhouse Gas Equivalencies Calculator which uses the AVoided Emissions and geneRation Tool (AVERT) US national weighted average CO2 marginal emission rate to convert reductions of kilowatt-hours into avoided units of carbon dioxide emissions. Data is as of September 30, 2021.\n\n\n\n7 Green jobs are calculated from the International Renewable Energy Agency‘s measurement that one megawatt of renewable power supports 3.8 jobs. Data is as of September 30, 2021.\nThe post Greenbacker acquires solar and storage portfolios across Illinois, Maine, and New York appeared first on Greenbacker Capital.", "date_published": "2022-03-01T08:33:42+00:00", "date_modified": "2022-08-30T20:11:33+00:00", "authors": [ { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" } ], "author": { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" }, "tags": [ "New York", "Maine", "Illinois", "GREC", "Press" ], "summary": "The acquisition from Borrego consists of two pre-operational solar portfolios and a pre-operational energy storage portfolio in NYC. The solar portfolios are mostly made up of community solar projects, contributing to more equitable renewable energy access, while the storage portfolio represents GREC\u2019s first assets under development in the standalone battery storage space, a sector critical to greater grid resilience." }, { "id": "https://greenbackercapital.com/?p=3175", "url": "https://greenbackercapital.com/2022/01/greenbackers-15-3-mw-roxwind-asset-reaches-commercial-operation/", "title": "Greenbacker\u2019s 15.3 MW RoxWind asset reaches commercial operation", "content_html": "\nGreenbacker\u2019s largest project in Maine powers 4,500 homes, supports local clean energy jobs
\n\n\n\nNew York, NY, January 5, 2022 — Greenbacker Renewable Energy Company LLC (\u201cGREC\u201d or \u201cGreenbacker\u201d), a leading owner and operator of sustainable infrastructure and energy efficiency projects, announced today that RoxWind, a 15.3-MW wind farm, entered commercial operation on November 30. When it was acquired in 2020, the to-be-constructed project in Roxbury was Greenbacker\u2019s first asset in Maine, a state with a history of strong support for renewables. Since then, the company has acquired four other assets and steadily built out its pipeline of renewable energy projects there, with RoxWind being its first in the state to reach the commercial operation milestone.
\n\n\n\nThe RoxWind project\u2019s wind power helps diversify the region\u2019s energy resources and is expected to produce nearly 50,300 megawatt-hours of annual clean energy, or enough to power approximately 4,500 homes per year. The project has also supported\u2014and continues to provide\u2014local clean energy jobs, including approximately 80 jobs during its construction, dozens of subcontractors for ongoing maintenance and special projects, and four full-time service technicians.
\n\n\n\nThe wind farm is Greenbacker\u2019s largest sustainable infrastructure asset in Maine. Its four turbines are also the biggest in the company\u2019s fleet, by both capacity and length, reflecting an evolutionary trend in wind power technology: Fewer, larger turbines generate energy more efficiently than many smaller turbines producing the same amount of power. Each of RoxWind\u2019s turbines can produce over 3.8 MW of wind power and has a rotor diameter of 137 meters\u2014roughly the length of 10 full-sized school buses placed end to end.
\n\n\n\nRoxWind also has deep roots in the community. John G. Richardson, Jr., the 97th Speaker of Maine\u2019s House of Representatives, was an invaluable proponent of the project who passed away before the construction was completed. His memory was honored in June 2021 during a community blade signing and commemoration event organized by Greenbacker and its development partners.
\n\n\n\n\u201cRoxWind is a win for all involved, delivering affordable clean power to consumers and driving a future powered by clean energy,\u201d said Charles Wheeler, CEO of GREC. \u201cThis milestone is a testament to the Town of Roxbury\u2019s support, and a credit to the expertise of the development teams at Palmer Capital, Solaya Energy, and Horseshoe Valley Wind, with whom we look forward to partnering again.\u201d
\n\n\n\nOriginally developed by Palmer Capital, RoxWind began construction in 2020. Today, it generates renewable energy for four investment-grade municipal utilities via long-term offtake agreements.
\n\n\n\n\u201cWe are pleased to have partnered with GREC, with their active footprint in Maine, to construct and commission this project in the Town of Roxbury,\u201d said Lindsay Deane-Mayer, Senior Vice President from Palmer. \u201cBringing a project online is the culmination of many years of focus by the entire development team, the Town, and various stakeholders. We are grateful for everyone who participated in bringing this project from concept to commercial operation. This project, dedicated to our partner John G. Richardson, will generate clean energy for decades as part of his legacy of giving back to his home state.\u201d
\n\n\n\nGreenbacker\u2019s fleet of sustainable infrastructure projects comprises approximately 2.2 GW of generating capacity (this includes both RoxWind and assets that are to be constructed). Since 2016, Greenbacker\u2019s real assets have generated 3.4 million megawatt-hours1 of clean energy, abating 2.1 million metric tons of carbon.2 Today these projects support 3,200 green jobs.3
\n\n\n\n\n\n\n\n![\"\"](\"https://greenbackercapital.com/wp-content/uploads/2022/01/Project-supporters-signing-1024x683.jpg\")
1 Data is as of September 30, 2021.
\n\n\n\n2 Carbon abatement is calculated using the EPA Greenhouse Gas Equivalencies Calculator which uses the AVoided Emissions and geneRation Tool (AVERT) US national weighted average CO2 marginal emission rate to convert reductions of kilowatt-hours into avoided units of carbon dioxide emissions. Data is as of September 30, 2021.
\n\n\n\n3 Green jobs are calculated from the International Renewable Energy Agency‘s measurement that one megawatt of renewable power supports 3.8 jobs. Data is as of September 30, 2021.
\nThe post Greenbacker\u2019s 15.3 MW RoxWind asset reaches commercial operation appeared first on Greenbacker Capital.
\n", "content_text": "Greenbacker\u2019s largest project in Maine powers 4,500 homes, supports local clean energy jobs \n\n\n\nNew York, NY, January 5, 2022 — Greenbacker Renewable Energy Company LLC (\u201cGREC\u201d or \u201cGreenbacker\u201d), a leading owner and operator of sustainable infrastructure and energy efficiency projects, announced today that RoxWind, a 15.3-MW wind farm, entered commercial operation on November 30. When it was acquired in 2020, the to-be-constructed project in Roxbury was Greenbacker\u2019s first asset in Maine, a state with a history of strong support for renewables. Since then, the company has acquired four other assets and steadily built out its pipeline of renewable energy projects there, with RoxWind being its first in the state to reach the commercial operation milestone.\n\n\n\nThe RoxWind project\u2019s wind power helps diversify the region\u2019s energy resources and is expected to produce nearly 50,300 megawatt-hours of annual clean energy, or enough to power approximately 4,500 homes per year. The project has also supported\u2014and continues to provide\u2014local clean energy jobs, including approximately 80 jobs during its construction, dozens of subcontractors for ongoing maintenance and special projects, and four full-time service technicians.\n\n\n\nThe wind farm is Greenbacker\u2019s largest sustainable infrastructure asset in Maine. Its four turbines are also the biggest in the company\u2019s fleet, by both capacity and length, reflecting an evolutionary trend in wind power technology: Fewer, larger turbines generate energy more efficiently than many smaller turbines producing the same amount of power. Each of RoxWind\u2019s turbines can produce over 3.8 MW of wind power and has a rotor diameter of 137 meters\u2014roughly the length of 10 full-sized school buses placed end to end.\n\n\n\nRoxWind also has deep roots in the community. John G. Richardson, Jr., the 97th Speaker of Maine\u2019s House of Representatives, was an invaluable proponent of the project who passed away before the construction was completed. His memory was honored in June 2021 during a community blade signing and commemoration event organized by Greenbacker and its development partners.\n\n\n\n\u201cRoxWind is a win for all involved, delivering affordable clean power to consumers and driving a future powered by clean energy,\u201d said Charles Wheeler, CEO of GREC. \u201cThis milestone is a testament to the Town of Roxbury\u2019s support, and a credit to the expertise of the development teams at Palmer Capital, Solaya Energy, and Horseshoe Valley Wind, with whom we look forward to partnering again.\u201d\n\n\n\nOriginally developed by Palmer Capital, RoxWind began construction in 2020. Today, it generates renewable energy for four investment-grade municipal utilities via long-term offtake agreements.\n\n\n\n\u201cWe are pleased to have partnered with GREC, with their active footprint in Maine, to construct and commission this project in the Town of Roxbury,\u201d said Lindsay Deane-Mayer, Senior Vice President from Palmer. \u201cBringing a project online is the culmination of many years of focus by the entire development team, the Town, and various stakeholders. We are grateful for everyone who participated in bringing this project from concept to commercial operation. This project, dedicated to our partner John G. Richardson, will generate clean energy for decades as part of his legacy of giving back to his home state.\u201d\n\n\n\nGreenbacker\u2019s fleet of sustainable infrastructure projects comprises approximately 2.2 GW of generating capacity (this includes both RoxWind and assets that are to be constructed). Since 2016, Greenbacker\u2019s real assets have generated 3.4 million megawatt-hours1 of clean energy, abating 2.1 million metric tons of carbon.2 Today these projects support 3,200 green jobs.3\n\n\n\n\n\n\n\n\n\n\n\nCommunity members, project supporters, and Greenbacker employees sign a turbine blade before installation at the RoxWind wind farm.\n\n\n\n1 Data is as of September 30, 2021.\n\n\n\n2 Carbon abatement is calculated using the EPA Greenhouse Gas Equivalencies Calculator which uses the AVoided Emissions and geneRation Tool (AVERT) US national weighted average CO2 marginal emission rate to convert reductions of kilowatt-hours into avoided units of carbon dioxide emissions. Data is as of September 30, 2021.\n\n\n\n3 Green jobs are calculated from the International Renewable Energy Agency‘s measurement that one megawatt of renewable power supports 3.8 jobs. Data is as of September 30, 2021.\nThe post Greenbacker\u2019s 15.3 MW RoxWind asset reaches commercial operation appeared first on Greenbacker Capital.", "date_published": "2022-01-05T22:09:44+00:00", "date_modified": "2022-08-19T11:50:21+00:00", "authors": [ { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" } ], "author": { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" }, "image": "https://greenbackercapital.com/wp-content/uploads/2022/01/RoxWind-COD-snow-scaled.jpg", "tags": [ "Maine", "GREC", "Press" ], "summary": "Greenbacker\u2019s largest sustainable infrastructure project in Maine powers 4,500 homes and supports local clean energy jobs." }, { "id": "https://greenbackercapital.com/?p=3034", "url": "https://greenbackercapital.com/2021/11/greenbacker-acquires-6-6-mwdc-pair-of-community-solar-projects-in-maine/", "title": "Greenbacker acquires 6.6 MWdc pair of community solar projects in Maine", "content_html": "\nThe projects expand Greenbacker\u2019s presence in a supportive renewables state
\n\n\n\nNew York, NY, November 10, 2021 \u2014 Greenbacker Renewable Energy Company LLC (\u201cGREC\u201d or \u201cGreenbacker\u201d), a leading owner and operator of sustainable infrastructure and energy efficiency projects, announced today that, through a wholly owned subsidiary, it has purchased a to-be-constructed solar portfolio in Maine, from ReneSola Power Holdings (\u201cReneSola\u201d). The portfolio\u2019s two projects\u2014Athens Ridge (3.8 MWdc) and Mars Hill (2.8 MWdc)\u2014deepen Greenbacker\u2019s relationship with an established renewables developer with a robust pipeline of both community and utility-scale solar projects, as well as battery energy storage systems. The projects also diversify and expand Greenbacker\u2019s fleet of sustainable infrastructure assets in Maine, a state with high demand and policy support for renewable energy.
\n\n\n\nThese two projects are Greenbacker\u2019s most recent in a history of successful renewable energy collaborations with ReneSola. During the first quarter of 2021, GREC purchased a pair of the developer\u2019s Utah solar assets, totaling 9.8 MWdc. The following quarter, Greenbacker acquired the other pre-operational solar projects\u2014Richmond Hill (2.5 MWdc) and Lebanon Road (2.8 MWdc)\u2014that combine with Athens Ridge and Mars Hill to round out ReneSola\u2019s 2022 Maine portfolio.
\n\n\n\nAll four projects in that Maine pipeline are grandfathered into the state\u2019s net energy billing program, which was capped in the second quarter of 2021. The program was designed to encourage small-scale renewable power by allowing consumers to offset their power bills by the net amount of energy they generate with their own (or community) clean energy systems.
\n\n\n\n\u201cWe\u2019re proud that these projects will contribute to cheaper renewable energy for Mainers,\u201d said Charles Wheeler, CEO of GREC. \u201cOur partnership with ReneSola\u2014and their wide-ranging renewables expertise\u2014continues to help the Pine Tree State progress toward its admirable clean power generation goals, and we look forward to collaborating on projects with them in the future.\u201d
\n\n\n\nAthens Ridge and Mars Hill are being sold at the notice to proceed stage, with Greenbacker completing the construction and retaining long-term ownership. Construction is expected to begin on the projects in the first quarter of 2022, with both assets slated to reach commercial operation in the third quarter of that year.
\n\n\n\n\u201cReneSola Power is committed to accelerating solar development in the US, and we are thrilled to see these projects contribute to Greenbacker\u2019s renewable energy portfolio and the clean energy goals of Maine,\u201d said John Ewen, President of ReneSola Power Holdings (North America).
\n\n\n\nIncluding the acquisition of these projects, Greenbacker\u2019s fleet of sustainable infrastructure projects comprises approximately 2.2 GW of generating capacity (including assets that are to be constructed), across solar, wind, battery storage, and biomass facilities. Since 2016, Greenbacker\u2019s real assets have generated 3.0 million megawatt-hours1\u00a0of clean energy, abating 2.1 million metric tons of carbon.2\u00a0Today these projects support 2,700 green jobs.3
\n\n\n\n1 Data is as of June 30, 2021.
\n\n\n\n2 Carbon abatement is calculated using the\u00a0EPA Greenhouse Gas Equivalencies Calculator\u00a0which uses the AVoided Emissions and geneRation Tool (AVERT) US national weighted average CO2\u00a0marginal emission rate to convert reductions of kilowatt-hours into avoided units of carbon dioxide emissions. Data is as of June 30, 2021.
\n\n\n\n3\u00a0Green jobs are calculated from the\u00a0International Renewable Energy Agency\u2018s measurement that one megawatt of renewable power supports 3.8 jobs. Data is as of June 30, 2021.
\nThe post Greenbacker acquires 6.6 MWdc pair of community solar projects in Maine appeared first on Greenbacker Capital.
\n", "content_text": "The projects expand Greenbacker\u2019s presence in a supportive renewables state\n\n\n\nNew York, NY, November 10, 2021 \u2014 Greenbacker Renewable Energy Company LLC (\u201cGREC\u201d or \u201cGreenbacker\u201d), a leading owner and operator of sustainable infrastructure and energy efficiency projects, announced today that, through a wholly owned subsidiary, it has purchased a to-be-constructed solar portfolio in Maine, from ReneSola Power Holdings (\u201cReneSola\u201d). The portfolio\u2019s two projects\u2014Athens Ridge (3.8 MWdc) and Mars Hill (2.8 MWdc)\u2014deepen Greenbacker\u2019s relationship with an established renewables developer with a robust pipeline of both community and utility-scale solar projects, as well as battery energy storage systems. The projects also diversify and expand Greenbacker\u2019s fleet of sustainable infrastructure assets in Maine, a state with high demand and policy support for renewable energy.\n\n\n\nThese two projects are Greenbacker\u2019s most recent in a history of successful renewable energy collaborations with ReneSola. During the first quarter of 2021, GREC purchased a pair of the developer\u2019s Utah solar assets, totaling 9.8 MWdc. The following quarter, Greenbacker acquired the other pre-operational solar projects\u2014Richmond Hill (2.5 MWdc) and Lebanon Road (2.8 MWdc)\u2014that combine with Athens Ridge and Mars Hill to round out ReneSola\u2019s 2022 Maine portfolio.\n\n\n\nAll four projects in that Maine pipeline are grandfathered into the state\u2019s net energy billing program, which was capped in the second quarter of 2021. The program was designed to encourage small-scale renewable power by allowing consumers to offset their power bills by the net amount of energy they generate with their own (or community) clean energy systems. \n\n\n\n\u201cWe\u2019re proud that these projects will contribute to cheaper renewable energy for Mainers,\u201d said Charles Wheeler, CEO of GREC. \u201cOur partnership with ReneSola\u2014and their wide-ranging renewables expertise\u2014continues to help the Pine Tree State progress toward its admirable clean power generation goals, and we look forward to collaborating on projects with them in the future.\u201d\n\n\n\nAthens Ridge and Mars Hill are being sold at the notice to proceed stage, with Greenbacker completing the construction and retaining long-term ownership. Construction is expected to begin on the projects in the first quarter of 2022, with both assets slated to reach commercial operation in the third quarter of that year.\n\n\n\n\u201cReneSola Power is committed to accelerating solar development in the US, and we are thrilled to see these projects contribute to Greenbacker\u2019s renewable energy portfolio and the clean energy goals of Maine,\u201d said John Ewen, President of ReneSola Power Holdings (North America).\n\n\n\nIncluding the acquisition of these projects, Greenbacker\u2019s fleet of sustainable infrastructure projects comprises approximately 2.2 GW of generating capacity (including assets that are to be constructed), across solar, wind, battery storage, and biomass facilities. Since 2016, Greenbacker\u2019s real assets have generated 3.0 million megawatt-hours1\u00a0of clean energy, abating 2.1 million metric tons of carbon.2\u00a0Today these projects support 2,700 green jobs.3\n\n\n\n1 Data is as of June 30, 2021.\n\n\n\n2 Carbon abatement is calculated using the\u00a0EPA Greenhouse Gas Equivalencies Calculator\u00a0which uses the AVoided Emissions and geneRation Tool (AVERT) US national weighted average CO2\u00a0marginal emission rate to convert reductions of kilowatt-hours into avoided units of carbon dioxide emissions. Data is as of June 30, 2021.\n\n\n\n3\u00a0Green jobs are calculated from the\u00a0International Renewable Energy Agency\u2018s measurement that one megawatt of renewable power supports 3.8 jobs. Data is as of June 30, 2021.\nThe post Greenbacker acquires 6.6 MWdc pair of community solar projects in Maine appeared first on Greenbacker Capital.", "date_published": "2021-11-10T19:23:56+00:00", "date_modified": "2022-07-11T20:53:44+00:00", "authors": [ { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" } ], "author": { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" }, "tags": [ "Maine", "GREC", "Press" ], "summary": "The projects\u2014Athens Ridge (3.8 MWdc) and Mars Hill (2.8 MWdc)\u2014deepen Greenbacker\u2019s relationship with ReneSola Power Holdings, a renewables developer with a robust pipeline of solar projects and battery energy storage systems. The two solar assets also diversify and expand Greenbacker\u2019s fleet of sustainable infrastructure assets in a state with high demand and policy support for renewable energy." }, { "id": "https://greenbackercapital.com/?p=2477", "url": "https://greenbackercapital.com/2021/07/community-blade-signing-marks-final-phase-of-construction-for-roxwind-a-greenbacker-renewable-energy-company-project/", "title": "Community blade signing marks final phase of construction for RoxWind, a Greenbacker Renewable Energy Company project", "content_html": "\nMaine wind farm is dedicated to local renewable energy proponent and political figure, John G. Richardson, Jr.
\n\n\n\nNew York, NY, July 26, 2021 (GLOBE NEWSWIRE) — On Saturday, June 26th, RoxWind LLC, a Greenbacker Renewable Energy Company-owned project, invited the Town of Roxbury, ME and interested parties in neighboring communities to attend a turbine blade signing and dedication ceremony. Developed by Palmer Capital Corporation, Solaya Energy, and Horseshoe Valley Wind, the RoxWind wind farm is currently under construction on Roxbury\u2019s North Twin Mountain. With the 220-foot turbine blades newly delivered to the site, local community members were invited to get a closer look and \u201ctouch a turbine.\u201d
\n\n\n\nThe event included a dedication of the project to John G. Richardson, Jr., a member of Horseshoe Valley Wind, who passed away unexpectedly a year ago. In 1998, Richardson was elected to the Maine House of Representatives, where he served as the Majority Leader before becoming the 97th Speaker of the House in 2005. Subsequently, John was appointed Commissioner of the Department of Economic and Community Development. After leaving government, John remained committed to service for the State of Maine. He partnered in multiple community development projects, including the RoxWind wind energy project.
\n\n\n\nRoxWind Community Blade Signing in Roxbury, Maine
\n\n\n\n![\"\"](\"https://greenbackercapital.com/wp-content/uploads/2021/07/Greenbackers-00429-2-scaled-1-1024x683.jpeg\")
Attendees signed turbine blades with their wishes for a clean energy future.
\n\n\n\n\u201cI can\u2019t think of a more appropriate way to commemorate the teamwork that\u2019s gone into this endeavor,\u201d said Richard Butt, CFO of Greenbacker Capital. \u201cThe Town of Roxbury, we at Greenbacker, and the teams at Palmer, Horseshoe Valley Wind, and Solaya Energy have worked together to contribute to a renewable energy-powered future and expand Mainers\u2019 access to clean, affordable energy.\u201d
\n\n\n\n\u201cOn behalf of our team, Palmer Capital, Solaya Energy and Horseshoe Valley Wind, we thank the many parties, especially the Town of Roxbury, for their support, coordination and collaboration to bring this project to this stage,\u201d Lindsay Deane-Mayer, project manager for the team, expressed in a joint statement from the development partners. \u201cIn particular, we appreciate Greenbacker Renewable Energy\u2019s cooperation in honoring our late business partner, John G. Richardson. John loved Maine, renewable energy and working with communities, so this project is a fitting capstone after his illustrious career in law, government, and community development. Our team looks forward to commissioning this project and we are certain that Greenbacker will continue its work with the local community to ensure its success.\u201d
\n\n\n\nLocated in Roxbury, Maine, RoxWind (15.3 megawatts) is contracted to sell electricity through long-term offtake agreements with four municipal utilities in New England. The project is expected to reach commercial operation during the third quarter of 2021.
\n\n\n\nRoxWind Development Partners from Palmer Capital, Solaya Energy and Horseshoe Valley Wind
\n\n\n\n![\"\"](\"https://greenbackercapital.com/wp-content/uploads/2021/10/Greenbackers-00466-1024x683-1.jpeg\")
Pictured from left to right: John A. Richardson, Stephen Von Vogt, Gordon Deane, Lindsay Deane-Mayer, Sumul Shah, and Bob Patton
\n\n\n\nAbout Greenbacker Renewable Energy Company
\n\n\n\nGreenbacker Renewable Energy Company LLC is a publicly reporting, non-traded limited liability energy company that acquires and manages income-generating renewable energy and energy efficiency projects, and other energy-related businesses. The projects in which we invest, such as solar and wind facilities, sell power under long-term contract to high credit worthy counterparties such as utilities, municipalities, and corporations. For more information, please visit www.greenbackercapital.com.
\n\n\n\nThis press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in its expectations.
\nThe post Community blade signing marks final phase of construction for RoxWind, a Greenbacker Renewable Energy Company project appeared first on Greenbacker Capital.
\n", "content_text": "Maine wind farm is dedicated to local renewable energy proponent and political figure, John G. Richardson, Jr.\n\n\n\nNew York, NY, July 26, 2021 (GLOBE NEWSWIRE) — On Saturday, June 26th, RoxWind LLC, a Greenbacker Renewable Energy Company-owned project, invited the Town of Roxbury, ME and interested parties in neighboring communities to attend a turbine blade signing and dedication ceremony. Developed by Palmer Capital Corporation, Solaya Energy, and Horseshoe Valley Wind, the RoxWind wind farm is currently under construction on Roxbury\u2019s North Twin Mountain. With the 220-foot turbine blades newly delivered to the site, local community members were invited to get a closer look and \u201ctouch a turbine.\u201d\n\n\n\nThe event included a dedication of the project to John G. Richardson, Jr., a member of Horseshoe Valley Wind, who passed away unexpectedly a year ago. In 1998, Richardson was elected to the Maine House of Representatives, where he served as the Majority Leader before becoming the 97th Speaker of the House in 2005. Subsequently, John was appointed Commissioner of the Department of Economic and Community Development. After leaving government, John remained committed to service for the State of Maine. He partnered in multiple community development projects, including the RoxWind wind energy project.\n\n\n\nRoxWind Community Blade Signing in Roxbury, Maine\n\n\n\n\n\n\n\n Attendees signed turbine blades with their wishes for a clean energy future. \n\n\n\n\u201cI can\u2019t think of a more appropriate way to commemorate the teamwork that\u2019s gone into this endeavor,\u201d said Richard Butt, CFO of Greenbacker Capital. \u201cThe Town of Roxbury, we at Greenbacker, and the teams at Palmer, Horseshoe Valley Wind, and Solaya Energy have worked together to contribute to a renewable energy-powered future and expand Mainers\u2019 access to clean, affordable energy.\u201d\n\n\n\n\u201cOn behalf of our team, Palmer Capital, Solaya Energy and Horseshoe Valley Wind, we thank the many parties, especially the Town of Roxbury, for their support, coordination and collaboration to bring this project to this stage,\u201d Lindsay Deane-Mayer, project manager for the team, expressed in a joint statement from the development partners. \u201cIn particular, we appreciate Greenbacker Renewable Energy\u2019s cooperation in honoring our late business partner, John G. Richardson. John loved Maine, renewable energy and working with communities, so this project is a fitting capstone after his illustrious career in law, government, and community development. Our team looks forward to commissioning this project and we are certain that Greenbacker will continue its work with the local community to ensure its success.\u201d\n\n\n\nLocated in Roxbury, Maine, RoxWind (15.3 megawatts) is contracted to sell electricity through long-term offtake agreements with four municipal utilities in New England. The project is expected to reach commercial operation during the third quarter of 2021.\n\n\n\nRoxWind Development Partners from Palmer Capital, Solaya Energy and Horseshoe Valley Wind\n\n\n\n\n\n\n\nPictured from left to right: John A. Richardson, Stephen Von Vogt, Gordon Deane, Lindsay Deane-Mayer, Sumul Shah, and Bob Patton\n\n\n\nAbout Greenbacker Renewable Energy Company\n\n\n\nGreenbacker Renewable Energy Company LLC is a publicly reporting, non-traded limited liability energy company that acquires and manages income-generating renewable energy and energy efficiency projects, and other energy-related businesses. The projects in which we invest, such as solar and wind facilities, sell power under long-term contract to high credit worthy counterparties such as utilities, municipalities, and corporations. For more information, please visit www.greenbackercapital.com.\n\n\n\nThis press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in its expectations.\nThe post Community blade signing marks final phase of construction for RoxWind, a Greenbacker Renewable Energy Company project appeared first on Greenbacker Capital.", "date_published": "2021-07-26T19:42:57+00:00", "date_modified": "2022-02-03T21:54:19+00:00", "authors": [ { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" } ], "author": { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" }, "image": "https://greenbackercapital.com/wp-content/uploads/2021/07/Greenbackers-00429-2-scaled-1.jpeg", "tags": [ "Maine", "GREC", "Press" ], "summary": "RoxWind LLC, a Greenbacker Renewable Energy Company-owned project, invited the Town of Roxbury, ME and interested parties in neighboring communities to attend a turbine blade signing and dedication ceremony." } ] }