Through wholly-owned subsidiary Six States Solar, Greenbacker Renewable Energy Company recently acquired 12 operating solar PV systems comprising 4.55 MW located in Arizona, California, Colorado, Connecticut and Indiana. The Six States Solar Portfolio now comprises 14 facilities leased from De Lage Landen Financial Services plus the 12 recently acquired assets. With the addition of these new assets the average remaining life of the various power purchase agreements across the portfolio is approximately 15 years.
“We saw an opportunity to acquire a portfolio of operating solar assets located in markets we are very familiar with at an attractive price,” said Charles Wheeler, CEO of Greenbacker. “As owner of these assets, Six States Solar will achieve increased cash on cash yields across its portfolio.”
Once the construction of the partially completed facilities in Southern California and Colorado are concluded, Greenbacker will own and operate in excess 256.4 MW of expected generating capacity comprising 61.5 MW of wind facilities and 194.9 MW of commercial and residential solar facilities.
News item from Greenbacker