Greenbacker acquires sponsor position in 200 MWac / 240 MWdc solar plant in Utah

Construction commences with groundbreaking ceremony for project that will supply Meta with renewable energy

New York, NY, November 03, 2022 — Greenbacker Capital Management (“GCM” or “Greenbacker”), a leading renewable energy asset manager, has partnered, through an affiliated investment vehicle, on a to-be-constructed 200 MWac / 240 MWdc solar plant in Iron County, Utah with rPlus Energies LLC (“rPlus”), a preeminent utility-scale renewable energy developer.

The Appaloosa Solar 1 project (“Appaloosa”) is now the second largest renewable energy project in the overall Greenbacker fleet, in terms of clean power–generation capacity. The asset that previously held that title recently entered commercial operation in neighboring Carbon County: the 80 MWac / 104 MWdc Graphite Solar (Greenbacker Renewable Energy Company’s largest operational solar energy project to date).

Appaloosa reunites many of Greenbacker’s project partners involved with Graphite, which was developed, built, and commissioned by rPlus. Sundt Renewables is again providing engineering, procurement, and construction services. Like Graphite, Appaloosa has a long-term power purchase agreement in place with utility PacifiCorp on behalf of Meta. The contract was developed under Rocky Mountain Power’s Schedule 34 green energy tariff, which allows large customers to purchase renewable energy generated on their behalf.

“Building durable partnerships is critical to building the future of energy,” said Ben Tillar, VP of Investments at Greenbacker. “We’re excited to continue collaborating with these industry experts on utility-scale solar plants like Appaloosa, which will support green jobs, diversify the region’s energy infrastructure, and help Utah run on cost-effective renewable power.”

rPlus, Sundt, and Greenbacker hosted a groundbreaking ceremony to celebrate the beginning of the project’s construction. At the September 12 event, project partners spoke on the environmental and economic benefits that investing in renewable energy projects like Appaloosa can provide, including in the communities that host them.

“We are thrilled to be working with Greenbacker again,” said Luigi Resta, President and CEO of rPlus Energies. “They have proven to be great partners that share similar feelings of responsibility and deep respect to the communities we are developing in.”

Appaloosa’s construction is expected to rely on many local vendors, bringing patrons to local businesses, delivering revenue to the area, and supporting approximately 250 construction-related green energy jobs. When complete, Appaloosa is expected to generate enough annual clean power to abate over 260,000 metric tons of carbon.1

1Per latest Independent Engineering Report.

Greenbacker groundbreaking shovels Appaloosa solar energy