Greenbacker Renewable Energy Co. LLC said April 17 that through a wholly-owned subsidiary it acquired 2.05 MW of operating solar power facilities located in Gainesville, Florida, for a purchase price of $4,150,000, plus closing costs.
The Gainesville Solar assets are comprised of two ground-mounted solar systems located on commercial properties. All of the electricity produced by these two solar systems are sold under long-term solar energy agreements to Gainesville Regional Utilities, which is rated Aa2 by Moody’s.
“We are extremely pleased to be purchasing these quality operating assets in Florida,” stated Charles Wheeler, CEO of Greenbacker. “We anticipate that these assets will produce steady and predictable returns for our investors, and will add significant solar power generation capacity to Greenbacker’s growing solar asset portfolio.”
With the completion of this acquisition, Greenbacker now owns and operates approximately 13 MW of operating solar power facilities throughout the United States and Canada. Greenbacker is a publicly registered, non-traded Limited Liability Company that expects to acquire a diversified portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable investments.