Greenbacker Renewable Energy Company announced that, through a wholly-owned subsidiary, it signed an agreement to purchase the managing member interest to a 6.3-MW Rockville Portfolio of two utility-scale solar projects from the Melink Corporation. The Rockville Portfolio projects have been operating since 2014.
The projects consist of a 3.1 MW site ground-mounted project and a 3.2 MW roof-mounted project, both located in Indianapolis, Indiana. The projects are contracted for 15 years through power purchase agreements with Indianapolis Power & Light and have approximately 10 years remaining under the contracts.
“With the Rockville Portfolio acquisition, we continue to expand our operating portfolio, adding assets with proven performance,” said Charles Wheeler, CEO of Greenbacker Renewable Energy. “We are pleased to continue to execute on our pipeline of operating renewable energy projects which exceed the Company’s investment criteria.”
With the addition of the Rockville Portfolio, the company will own approximately 377.7 MW of generating capacity (including assets that will be constructed) comprising 61.5 MW of wind facilities and 316.2 MW of utility-scale and distributed solar facilities.
News item from Greenbacker Renewable Energy Company