NEW YORK--(BUSINESS WIRE)--Greenbacker Renewable Energy Company LLC (“the Company”) announced today that, through a wholly-owned subsidiary, it signed an agreement to purchase the managing member interest to a 6.3 megawatt (MW) portfolio of two utility scale solar projects (“Rockville Portfolio”) from Melink Corporation (“Melink”). 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 (“IP&L”) 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 the Company. “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 are to be constructed) comprising 61.5 MW of wind facilities and 316.2 MW of utility-scale and distributed solar facilities.
About Greenbacker Renewable Energy Company
Greenbacker Renewable Energy Company LLC is a publicly registered, non-traded limited liability company that owns a diversified portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable investments. For more information, please visit www.greenbackercapital.com.
Melink is a global leader in energy efficiency and renewable energy solutions for the commercial building industry. Products and services include HVAC testing & balancing services, demand control kitchen ventilation systems, building pressure monitoring controls, and solar PV and geothermal HVAC systems. For more information, please visit www.melinkcorp.com.
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.