Greenbacker Renewable Energy Company LLC Acquires a 6.0 Megawatt Wind Farm in California
Greenbacker Renewable Energy Company LLC (“Greenbacker”) announced
today, through a wholly owned subsidiary, it purchased Wagner Wind, LLC
(“Wagner Wind”) from BayWa r.e. Wagner Wind is a 6.0 megawatt wind farm
located in Palm Springs, CA that sells power to the City of Riverside,
CA. Wagner Wind has a 20-year power purchase agreement, with
approximately 15 years remaining as of the acquisition date. BayWa r.e.
developed and constructed the facility which it placed in service in Q4
2012 and has operated continuously since that time.
“Adding a wind asset contiguous to our Golden Horizons solar facility in
Palm Springs provides significant operational efficiencies in the
ongoing management of both assets,” stated Charles Wheeler, CEO of
Greenbacker. “As we strategically expand our portfolio of wind assets,
we continue to focus on the broader strategy of acquiring premier
commercial renewable energy assets with high-quality off-takers.”
With this acquisition, Greenbacker now owns 61.5 megawatts of wind power
assets.
“The sale of our Wagner Wind project rounds up a successful year for our
U.S. wind business and is the third project sold in 2017. We are
preparing the next projects for construction and are looking forward to
transacting with buyers and sellers on exciting projects,” says Florian
Zerhusen, CEO of BayWa r.e. Wind, LLC.
About Greenbacker Renewable Energy Company
Greenbacker Renewable Energy Company is a publicly registered,
non-traded limited liability company that owns and operates a
diversified portfolio of income-producing renewable energy power plants,
energy efficiency projects and other sustainable investments.
About BayWa r.e.
The international trading conglomerate BayWa AG pools all of its
renewable activities in its subsidiary BayWa r.e. (renewable energy),
which is predominately active in the wind and solar industry.
Headquartered in Munich since inception in 1923, BayWa AG is a publicly
traded company generating an estimated annual revenue of 15 billion
Euros and employs over 17,000 individuals across its three core
segments: Agriculture, Building Materials and Energy. With over 1,000
employees working in BayWa r.e. globally, the group has developed and
constructed over 1,7GW and actively provides asset management for over
2GW. BayWa r.e. acquires, develops constructs and operates renewable
energy projects as well as distributing PV components on a wholesale
basis.
BayWa r.e. Wind, LLC is responsible for the groups North American
activities in the wind sector. The company has been active in the U.S.
since 2001 and was acquired by BayWa AG in 2011.
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 the Company 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. The Company
undertakes no obligation to update any forward-looking statement
contained herein to conform to actual results or changes in the
Company‘s expectations.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171229005354/en/
Copyright Business Wire 2017
Source: Business Wire
(December 29, 2017 - 2:25 PM EST)
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