New York, NY, September 1, 2023 – Today, Greenbacker Renewable Energy Company LLC (“Greenbacker,” “GREC,” or the “Company”), an independent power producer and a leading climate focused investment manager announced that Mehul Mehta, its Chief Investment Officer (“CIO”), is stepping down from the CIO role and departing the Company effective September 1, 2023. During his tenure, the Company achieved significant growth and expansion investing in dozens of renewable energy investments spanning the country. Although Mehul’s role as CIO ceases on September 1, 2023, he will remain involved with the Company through a consultancy role focusing on renewable energy development projects and the repowering of some of the existing assets in the Company’s fleet. Charles Wheeler, Chief Executive Officer (“CEO”), will resume the role of CIO, a position he held throughout most of the Company’s history. Charles will work closely with an industry veteran who has accepted the position of Head of Renewable Energy Infrastructure Investing and who will assume responsibility for the day-to-day management of the renewable energy infrastructure investment team. The Company will separately announce this hire in due course.
“Mehul’s contribution to our organization has been invaluable. While we will miss his leadership in transactional execution and management, we look forward to continuing working with him on our fleet’s renewable energy initiatives. His vision for sustainable growth aligns with our commitment to creating a more sustainable and environmentally conscious future, and we’re confident that he will continue to add significant value to Greenbacker’s shareholders in his new role,” says Charles Wheeler, CEO.
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.