New York, NY, November 03, 2022 — Greenbacker Capital Management (“GCM” or “Greenbacker”), a leading renewable energy asset manager, has partnered, through an affiliated investment vehicle, on a to-be-constructed 200 MWac / 240 MWdc solar plant in Iron County, Utah with rPlus Energies LLC (“rPlus”), a preeminent utility-scale renewable energy developer.

The Appaloosa Solar 1 project (“Appaloosa”) is now the second largest renewable energy project in the overall Greenbacker fleet, in terms of clean power–generation capacity. The asset that previously held that title recently entered commercial operation in neighboring Carbon County: the 80 MWac / 104 MWdc Graphite Solar (Greenbacker Renewable Energy Company’s largest operational solar energy project to date).

Appaloosa reunites many of Greenbacker’s project partners involved with Graphite, which was developed, built, and commissioned by rPlus. Sundt Renewables is again providing engineering, procurement, and construction services. Like Graphite, Appaloosa has a long-term power purchase agreement in place with utility PacifiCorp on behalf of Meta. The contract was developed under Rocky Mountain Power’s Schedule 34 green energy tariff, which allows large customers to purchase renewable energy generated on their behalf.

“Building durable partnerships is critical to building the future of energy,” said Ben Tillar, VP of Investments at Greenbacker. “We’re excited to continue collaborating with these industry experts on utility-scale solar plants like Appaloosa, which will support green jobs, diversify the region’s energy infrastructure, and help Utah run on cost-effective renewable power.”

rPlus, Sundt, and Greenbacker hosted a groundbreaking ceremony to celebrate the beginning of the project’s construction. At the September 12 event, project partners spoke on the environmental and economic benefits that investing in renewable energy projects like Appaloosa can provide, including in the communities that host them.

“We are thrilled to be working with Greenbacker again,” said Luigi Resta, President and CEO of rPlus Energies. “They have proven to be great partners that share similar feelings of responsibility and deep respect to the communities we are developing in.”

Appaloosa’s construction is expected to rely on many local vendors, bringing patrons to local businesses, delivering revenue to the area, and supporting approximately 250 construction-related green energy jobs. When complete, Appaloosa is expected to generate enough annual clean power to abate over 260,000 metric tons of carbon.¹

1Per latest Independent Engineering Report.

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New York, NY, July 28, 2022 — Greenbacker Renewable Energy Company LLC (“GREC” or “Greenbacker”), a leading green energy investment company and independent power producer, announced that its Graphite Solar project in Carbon County, Utah has entered commercial operation. With a power capacity of 104 MWdc / 80 MWac, Graphite is now the largest operational asset in Greenbacker’s clean energy fleet.

Greenbacker joined project partners and local officials at a July 12 commissioning ceremony hosted by developer rPlus Energies (“rPlus”) to celebrate the project’s completion and the benefits it provides for the area. Graphite supports local green jobs and generates increased tax revenue for the community, while expanding the region’s contributions to America’s energy landscape.

“It’s very special that Graphite Solar can play a role in helping Carbon County diversify its contributions to the local energy infrastructure,” said Charles Wheeler, CEO of GREC. “A place with a long history of power production is now home to Greenbacker’s largest operating clean energy project.” (Previously, the company’s 61 MWdc Turquoise Solar in Nevada held that title.)

The project has begun delivering solar energy to the Meta (formerly Facebook) data center in nearby Eagle Mountain, UT, helping the company power its operations exclusively with renewable energy.

“Bringing new renewable energy and investment to communities where we operate is a priority for Meta,” said Urvi Parekh, Director, Renewable Energy at Meta. “We appreciate the partnership with rPlus and Greenbacker that is delivering this new solar energy to the Utah grid in support of our local operations.”

Greenbacker’s largest operating renewables project to date

Graphite has a long-term power purchase agreement with PacifiCorp on behalf of Meta. The contract was developed under Rocky Mountain Power’s Schedule 34 green energy tariff, which helps sizable energy consumers source renewables to meet their clean energy targets.

“Rocky Mountain Power is committed to helping our customers, and the communities we serve, meet their renewable energy goals,” said Merlin Rushton, regional business manager in Price, Utah. “Projects like this are a demonstration of our company’s commitment to expand energy choices for our customers and manage the transition to a 21st Century electricity network.”

Greenbacker, rPlus, and Sundt Renewables (the project’s engineering, procurement, and construction contractor) have also invested in the community and its workforce with a scholarship program. The Local First Scholarship – Graphite Solar program provides $75,000 to students who reside in Carbon County and who plan to pursue their career goals locally after completing their certificate or degree.

“A lot of work, dedication, and collaboration has been made to get to this point,” said Luigi Resta, rPlus Energies President & CEO. “We are immensely proud that we can contribute to the continuation of the energy legacy that is Carbon County.”

Greenbacker acquired Graphite Solar from rPlus in December 2020, contracting with the developer to manage the project through construction. Construction involved installing 1.5 miles of transmission lines and 257,700 solar modules and supported 273,800 hours of construction labor.

Greenbacker’s fleet of clean energy projects comprises over 2.6 GW of generating capacity (including Graphite and assets that are to be constructed). Since 2016, Greenbacker’s real assets have produced nearly 4.3 million megawatt-hours¹ of clean energy, abating more than 3.0 million metric tons of carbon.² Today these projects support over 4,700 green jobs.³

At the July 12 commissioning ceremony for Graphite Solar

1 Data is as of March 31, 2022.

2 EPA Greenhouse Gas Equivalencies Calculator. Data is as of March 31, 2022.

3 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 March 31, 2022.

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The Local First Scholarship series will be available exclusively to students residing in counties where rPlus Energies constructs a namesake project. It will support students wishing to remain local while meeting their career goals and will support rural communities in meeting their workforce needs by providing full and partial tuition scholarships to local university certificate and degree programs.

“We are very excited to kick off this first-of-its-kind scholarship and help the local community with increased job skills, allowing local students to stay in the community where they have grown up,” said Luigi Resta, President & CEO of rPlus Energies.

For its Local First Scholarship – Graphite Solar program, the first in the Local First Scholarship series, rPlus Energies is partnering with Utah State University Eastern (USUE) to provide a total of $75,000 to qualifying students who are within the first 25% of their respective program/degree hours, reside in Carbon County, UT, and plan to stay local after degree or certificate completion. USUE’s campus is located in Carbon County and offers an extensive certificate program that caters to local workforce needs as well as strong traditional four-year programs.

“This scholarship will be transformative to the students who receive it,” said Greg Dart, Chief Campus Administrator of Utah State University Eastern. “The commitment of rPlus Energies, Greenbacker Renewable Energy Company, and Sundt Renewables shows how deeply they care about this community. Their commitment to this community, this campus, and these students is amazing, and we cannot thank them enough for their generosity and the impact it will have.”

The Local First Scholarship – Graphite Solar program is currently open to Fall 2022 applicants through the USUE scholarship portal. Students will need to be admitted to USUE before they will be able to apply for the award. The application window closes on July 31, 2022.

About Graphite Solar

Graphite Solar is an 80 MW (ac) solar project in Carbon County, Utah. In late 2020, Greenbacker Renewable Energy Company, LLC purchased Graphite Solar from rPlus Energies, contracting rPlus to continue to manage the project through construction.

The Graphite Solar project has a 15-year power purchase agreement with PacifiCorp on behalf of Meta (previously Facebook). The contract was developed under Rocky Mountain Power’s Schedule 34 green energy tariff, which allows large customers to purchase renewable energy generated on their behalf. Graphite Solar will be the first project developed by rPlus Energies to achieve commercial operation.

Graphite Solar has and will continue to support the local economy through increased tax revenues and continuing the community’s legacy as an energy exporter for the region. rPlus is currently managing project construction and has sourced approximately 80% of the workers and available resources from the local community, with pay and benefits consistent and competitive with construction jobs in the region.

Graphite Solar’s commercial operation date is scheduled for summer 2022.

About rPlus Energies
rPlus Energies develops modern power plants to contribute to the rebuilding of America’s energy infrastructure. Through partnership with the private sector, municipalities, and utilities, rPlus Energies develops utility-scale power plants to access a region’s best mix of renewable resources to enable a more dispatchable and reliable power supply. rPlus Energies has over 30 projects across 15 market areas in the U.S. in active development including solar, wind, pumped storage hydro, and solar plus battery. rPlus Energies is a subsidiary of The Gardner Company, family owned and operated since 1976, which is dedicated to building better communities through thoughtful, sustainable practices in developing and managing real estate, renewable energy and technology, and providing results-oriented philanthropy. Learn more at www.rplusenergies.com.

About Greenbacker Renewable Energy Company
Greenbacker Renewable Energy Company LLC is a publicly reporting, non-traded limited liability sustainable infrastructure company that acquires and manages income-producing renewable energy and other energy-related businesses, including solar and wind farms. We seek to invest in high-quality projects that sell clean power under long-term contract to high-creditworthy counterparties such as utilities, municipalities, and corporations. We are long-term owner-operators, who strive to be good stewards of the land and responsible members of the communities in which we operate. We believe our focus on power production and income generation creates value that we can then pass on to our shareholders—while facilitating the transition toward a clean energy future. For more information, please visit www.greenbackercapital.com.

About Sundt Construction 
Sundt Construction, Inc. (www.sundt.com) is one of the country’s largest and most respected general contractors. The 132-year-old firm specializes in transportation, industrial, building, concrete and renewable energy work and is owned entirely by its approximately 1,500-plus employees. Sundt is distinguished by its diverse capabilities and experience, unique employee-ownership culture and depth of self-perform expertise in nine major trades. Much of Sundt’s workforce is comprised of skilled craft professionals who, together with the company’s administrative employees, enable Sundt to fulfill its mission to be the most skilled builder in America. Sundt has 12 offices throughout Arizona, California, North Carolina, Oregon, Texas and Utah and is currently ranked the country’s 58th largest construction company by ENR, the industry’s principal trade magazine.

About PacifiCorp 
Innovating to power a better future for the West, PacifiCorp operates the largest grid in the western United States, serving the growing energy needs of 2 million customers through 17,645 miles of transmission lines over a service area of 141,503 square miles. Our operating divisions are leaders in providing safe, reliable and sustainable low-cost power.

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New York, NY, May 25, 2021 (Globe Newswire) – Greenbacker Renewable Energy Company (Greenbacker), a leading owner and operator of sustainable infrastructure and energy efficiency projects, announced today that rPlus Energies, a Utah-based developer of modern power plants, recently broke ground on Graphite Solar I, a 104 Megawatt (dc) / 80 Megawatt (ac) utility-scale solar project owned by Greenbacker in Carbon County, Utah. The project will be one of the largest solar plants in Greenbacker’s nationwide portfolio of renewable energy projects and will contribute renewable power to Facebook’s new data center in Eagle Mountain, Utah.

The Graphite Solar project demonstrates Greenbacker’s continued growth as a key investor in and driver of significant renewable energy infrastructure projects supplying power to municipalities, major companies including Apple and Facebook and many other entities across the country. The groundbreaking follows Greenbacker’s announcement in March that it has completed construction of the Turquoise Solar Project, a 61 megawatt solar farm in Washoe County, Nevada, that supplies renewable energy to Apple’s data center in the Reno Technology Park.

The Graphite Solar project has a long-term power purchase agreement (PPA) in place with the investment-grade utility PacifiCorp on behalf of Facebook. The contract was developed under Rocky Mountain Power’s Schedule 34 green energy tariff, which allows large customers to purchase renewable energy generated on their behalf.

The project supports Facebook’s goal of 100 percent renewable energy for its operations and is expected to reach commercial operations in the fourth quarter of 2021.

“Large projects like Graphite will increasingly be necessary to meet the electricity needs of the technology economy and provide carbon neutral alternatives to traditional power sources,” said Charles Wheeler, CEO of Greenbacker. “We’re thrilled to play a role in the ongoing positive impact that this sustainable infrastructure project will have on boosting local employment, supporting regional economies, and creating more reliable power grids.”

Graphite is being built in Wellington, Utah, a town with several coal mines, a recently retired coal plant, and a long history of generating power for the area. With the construction of this solar facility, the community further diversifies its contributions to the local energy infrastructure and catalyzes the region’s economic development.

The rPlus Energies team was joined for the groundbreaking by Greenbacker and by Sundt Construction, which will serve as the engineering, procurement and construction (EPC) lead for the project.

“rPlus Energies is proud to work with Carbon County, as it continues its legacy in energy development–with Graphite Solar capturing the benefits of solar power in the region for years to come,” said Luigi Resta, CEO, rPlus Energies. “We look forward to continuing to work with the Carbon County community through project construction, with a focus on energizing the economy and local hiring.”

“It has been great to see the Graphite Solar project bringing the community together,” said Carbon County Commissioner, Tony Martines, during the groundbreaking ceremony. “With several local companies playing a large part in this endeavor, the project has provided new job opportunities and allowed our community to see energy in a new light.”

Greenbacker Renewable Energy Company LLC purchased the pre-operational solar project from rPlus Energies LLC in December 2020 and contracted rPlus to continue to develop the project through construction. rPlus Energies has engaged Utah’s Sundt Renewables and Sundt Construction to provide engineering, procurement and construction support for the project, which will include the installation of more than a quarter million solar panels.

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New York, NY, Apr. 8, 2021 (GLOBE NEWSWIRE) — Greenbacker Renewable Energy Company LLC (“GREC”), a leading owner and operator of sustainable infrastructure and energy efficiency projects, announced today that, through a wholly-owned subsidiary, it purchased an approximately 10 MWdc portfolio of pre-operational solar projects from ReneSola Power (NYSE: SOL).

The projects have secured strong offtake with two corporate counterparties, via 20-year solar equipment leases.

Consisting of three ground-mounted commercial distributed generation sites in Utah, the behind-the-meter projects are expected to start construction in the third quarter of 2021 and reach commercial operation by the end of the year. The transaction also allows GREC to expand its ongoing relationship with ReneSola Power, an established developer with a robust pipeline of community and utility-scale solar projects and battery storage systems.

“It’s extremely rewarding to be part of expanding renewable energy access in Utah.” said Charles Wheeler, CEO of GREC. “ReneSola Power were a pleasure to partner with, and their extensive experience was a clear benefit in originating these solar projects. We look forward to working with them again on future sustainable energy endeavors.”

Mr. John Ewen, CEO of ReneSola Power North America, commented, “Greenbacker will be an excellent partner in this portfolio, and we are thrilled to close the sale transaction. We look forward to collaborating with them on other opportunities.”

With the acquisition of these projects, Greenbacker owns approximately 1.10 GW of generating and storage capacity (including assets that are to be constructed), comprising 827.4 MW of utility-scale and distributed solar facilities, 242.6 MW of wind facilities, 16.0 MW of battery storage, and 12.0 MW of biomass facilities.

About Greenbacker Renewable Energy Company

Greenbacker 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.

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The company focuses on solar power project development, construction management, and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly and can sustain that growth due to improved clarity around government policies. The company’s strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the company has a market-leading position in several geographies, including Poland, Hungary, Minnesota, and New York.

Forward-Looking Statements

This 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.

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The project, Graphite Solar I LLC, is located in Carbon County, Utah and has a long-term Power Purchase Agreement (“PPA”) in place with the utility PacifiCorp on behalf of Facebook. The contract was developed under Rocky Mountain Power’s Schedule 34 green energy tariff, which allows large customers to purchase renewable energy generated on their behalf. The project supports Facebook’s goal of 100% renewable energy for its operations and is expected to reach commercial operations (“COD”) in Q4 2021.

“Graphite Solar, now our largest solar acquisition to date, is indicative of growing scale within our portfolio.” said Charles Wheeler, CEO of Greenbacker. “Large projects like Graphite will increasingly be necessary to meet the electricity needs of the technology economy and provide carbon neutral alternatives to traditional power sources. We were pleased to work with rPlus Energies, who proved to be a valuable partner during this transaction and will continue supporting the project through construction.”

 “We look forward to working with Greenbacker to help PacifiCorp and Facebook tap the excellent solar capacity available in Utah,” said Luigi Resta, CEO, rPlus Energies. “And we look forward to continuing to work with the Carbon County community through project construction, with a focus on energizing the economy and local hiring. With the long-term goal to help rebuild America’s aging energy infrastructure, the sale of this project will allow rPlus to continue to advance renewable energy projects in communities across the United States.”

With the acquisition of Graphite Solar I, Greenbacker will own approximately 915.4 MW of generating capacity (including assets that are to be constructed), comprising 641.7 MW of utility-scale and distributed solar facilities, 242.6 MW of wind facilities, 19.1 MW of battery storage, and 12.0MW of biomass facilities.

About Greenbacker Renewable Energy Company

Greenbacker 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.greenbacker.com.

About rPlus Energies

rPlus Energies develops modern power plants to contribute to the rebuilding of America’s energy infrastructure. Through partnership with the private sector, municipalities, and utilities, rPlus develops utility-scale power plants to access a region’s best mix of renewable resources to enable a more dispatchable and reliable power supply. rPlus Energies currently has approximately 35 projects in 18 states in active development including solar, wind, pumped-hydro, and solar plus battery. rPlus Energies is a subsidiary of The Gardner Companies, which have been dedicated to building better communities through thoughtful, sustainable practices in developing and managing real estate, renewable energy and technology, and providing results-oriented philanthropy since 1976. Learn more at www.rplusenergies.com

Forward-Looking Statements

This 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.

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