Greenbacker’s First Solar-Plus-Storage Power Facility Enters Commercial Operation, Providing Clean and Continuous Energy in Colorado

Rawhide Prairie Solar Produces 22 MW of Power, Supplemented with 2 MWh of Battery Storage to Support Power Availability

New York, NY, March 31, 2021 — Greenbacker Renewable Energy Company (“GREC”), announced today that Rawhide Prairie Solar, a 22 MW project in Colorado, began commercial operation on March 19. GREC is managed by Greenbacker Capital Management (“Greenbacker”), a leading national investment firm in the sustainable infrastructure sector.

The facility marks GREC’s first ‘solar-plus-storage’ project, pairing solar power generation with power storage capabilities, reflecting the firm’s expanding presence in energy projects at the forefront of innovation in renewable energy.

An onsite Tesla battery pack is capable of storing up to two megawatt hours (MWh) of energy, and helps ensure less expensive, more reliable power during times of peak consumer demand or lower solar resource (i.e., less sunshine).

“Rawhide Prairie Solar was our first solar-plus-storage project, and it’s incredibly rewarding to see it up and running,” said GREC CEO Charles Wheeler. “Energy storage will play a crucial role in the future of renewable energy, bringing many practical benefits to consumers and the community, as well as advantages for producers and offtakers of clean power. We’re happy to partner with the Platte River Power Authority and DEPCOM to put this technology to work in Colorado.”

Located at the Platte River Power Authority’s Rawhide Energy Station, Rawhide Prairie will generate enough annual solar energy to power approximately 6,000 homes in the utility’s owner communities of Estes Park, Fort Collins, Longmont, and Loveland. DEPCOM Power provided the engineering and construction of the plant and will continue to manage the project and deliver output to Platte River under a 20-year power purchase agreement.

Rawhide Prairie encompasses approximately 150 acres adjacent to the 30-megawatt Rawhide Flats Solar installation and brings Platte River’s total solar capacity to 52 megawatts, while further diversifying the organization’s resources located at the Rawhide Energy Station.

 “The battery at Rawhide Prairie Solar continues Platte River’s thoughtful approach to investment in energy technology,” said Platte River Power Authority CEO and General Manager Jason Frisbie. “Platte River staff will gain valuable experience utilizing energy storage to integrate noncarbon resources before we accelerate adoption of this technology.” The organization has set the goal of achieving a 100% noncarbon energy portfolio by 2030.

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 Greenbacker 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. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in its expectations.

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