Greenbacker Capital expands Investments team with new senior hire

Former RWE VP Maya Rao to accelerate energy transition investments

New York, NY, February 23, 2022 — Greenbacker Capital Management, LLC (“GCM” or “Greenbacker”), a leader in sustainable infrastructure investment, is pleased to announce that Maya Rao has been hired as a Managing Director on the Investments team. Rao’s addition—which underscores Greenbacker’s continuing growth—bolsters the firm’s ability to expand its clean energy investments beyond traditional sectors, particularly in battery storage.

As a deal team lead, Rao will execute on the company’s growth strategy and oversee deal origination, deploying capital into an expanding market of sustainable infrastructure opportunities. She brings over a decade of experience successfully executing M&A and capital raising transactions in the renewables, energy trading, and financial services sectors. Rao most recently served as Vice President and Head of the Partnerships & Transactions team for RWE Renewables Americas, leading the company’s asset acquisitions and divestments across onshore wind, solar, and storage. She began her career in investment banking and financial services, transitioning to the energy trading sector in 2009, where she led acquisitions and joint venture partnerships in oil, gas, and power markets.

Rao joins Greenbacker during a time of expansion for the firm. In the last two years, the gross investment value1 of Greenbacker’s strategies has more than doubled, growing from $622.5 million on September 30, 2019, to over $1.8 billion as of September 30, 2021. Over the same period, the clean power–generating capacity of the fleet of renewable energy assets managed by Greenbacker increased from approximately 536 MW to more than 2.2 GW, with assets in 35 states, districts, territories, and provinces.2

“In Maya, we found the best possible person to expand our team, our focus, and our investment strategies,” said Mehul Mehta, Chief Investment Officer of Greenbacker. “Her renewables experience and successful track record of sustainable infrastructure investment augment Greenbacker’s ability to extend our investments in areas beyond solar and wind.”

“I am excited and honored to be on the Greenbacker team, especially during such a period of growth and transformation in the renewables sector,” Rao said. “The market is evolving rapidly as efficiencies and innovation create new opportunities for investor capital to drive the clean energy transition. I look forward to contributing to Greenbacker’s ongoing growth by capitalizing on the investment opportunities that are both available in the space today and becoming visible on the horizon.”

1 Gross investment value (GIV) reflects the fair market value of the investments and cash managed by Greenbacker, as well as project-level debt related to the projects we manage. GIV amounts are unaudited and subject to change.

2 Greenbacker portfolio metrics set forth herein are unaudited estimates and subject to change.

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