Greenbacker Renewable Energy Company LLC (“GREC”):
2024 K-1 tax forms are now available.
5498 tax forms for our First Trust Retirement shareholders will be available by 5/31/2025.
GREC did not generate Unrelated Business Taxable Income (UBTI) in 2024.
Investors may access their tax forms using the Investor Login button below and financial representatives/advisors may access their customer tax forms by using the Advisor Login button below.
For assistance with the Investor Portal, please call our Service Center at (833) 404-4104 and select option 1.
For assistance with DST Vision, please call DST Vision Support at (800) 435-4112.
Greenbacker Renewable Energy Company (GREC) is a publicly reporting, non-traded limited liability company that acquires and manages income-generating renewable energy and other energy-related businesses. Our business objective is to generate attractive risk-adjusted returns for our investors, consisting of both current income and long-term capital appreciation. We do this by acquiring and financing the construction and operation of income-generating renewable energy and sustainable development projects, primarily within North America. GREC invests in a diversified portfolio of income-producing renewable energy power facilities that sell long-term electricity contracts to off-takers with high credit quality, such as utilities, municipalities, and corporations.
BY THE NUMBERS
Calendar Year Returns (2)
| Class P-I (3) | 5.52% | 6.60% | 8.84% | 6.89% | 10.07% | 4.10% | 6.71% | 0.15% | -1.88% | -35.13% |
| Class P-A (4,5) | 4.55% | 1.58% | 0.92% | 5.64% | 9.48% | 6.09% | 6.40% | 0.10% | -1.68% | -35.82% |
| Class P-D (6) | - | - | - | - | - | 3.94% | 6.20% | 0.13% | -1.73% | -35.06% |
| Class P-T (6) | - | - | - | - | - | 3.82% | 5.41% | -0.96% | -1.92% | -34.96% |
| Class P-S (6) | - | - | - | - | - | 3.98% | 6.13% | -0.82% | -2.18% | -35.65% |
Past performance is not indicative of future results. Return information is unaudited and subject to change. All returns shown assume reinvestment of distributions and are net of all expenses.
- Monthly share value as of January 1, 2025. Monthly Share Value (MSV) based calculations involve significant professional judgment. The calculated value of our assets and liabilities may differ from our actual realizable value or future value, which would affect the MSV as well as any returns derived from MSV, and ultimately the value of your investment. See the Private Placement Memorandum (“PPM”) for additional details related to the calculation of MSV. On February 4, 2025, GREC filed an 8-K with the SEC regarding an update to the Company's net asset value update process, upon which MSV is based. For more information, please view the 8-K filing.
- Returns shown are as of 4/1/2025 and reflect the percentage change in the MSV per share from the beginning of the applicable period, plus the amount of any distribution per share declared in the period. All returns are unaudited, assume the reinvestment of distributions, and are net of all expenses including G&A expenses, management fees, performance participation fees, and share class specific fees, as applicable.
- Fund launched in May 2016, no returns prior to launch.
- Fund launched in May 2016, no returns prior to launch.
- Class P-A shares were converted into Class P-I shares during the quarter ended June 30, 2017 and were not offered for sale for the period through April 15, 2018. Effective April 16, 2018, Class P-A shares were again offered.
- Fund launched in February 2021, no returns prior to launch.
- 2025 YTD figures are representative of the period of January 1, 2025 through April 1, 2025.
Operational Growth Highlights
(Year Over Year)
AS OF 12/31/24
Operating fleet grew by 8% as we turned on 22 new solar assets.
Greenbacker's solar assets generated over 1.5 million MWh of clean power, while its wind assets produced over 1.2 million MWh, representing year-over-year increases of 20% and 26%, respectively.
Total Operating / Pre-operating/ Under Construction
(% Capacity)
Operating, 54%
Pre-operating, 23%
Under construction, 23%High-Credit Quality Offtakers
(% Capacity)
Investment-grade utility, 80%
Investment-grade corporation, 9% Non-rated, 7%
Investment-grade municipality, 4%Technology Diversification by Operating Capacity
(% Capacity)
Solar, 73% Wind, 24% Solar + Storage, 2% Battery Storage, 1%Portfolio metrics are unaudited and subject to change.
1 Prior to 3Q20 the Company did not formally track total asset and capacity statistics for projects the Company had contracted to acquire but had not yet closed.
2 Weighted average remaining contract term refers to the power purchase agreements (“PPA”) of our total assets.
3 Non-rated off-takers are unrated by credit rating agencies.
TEAM
DAN DE BOER
INTERIM CHIEF EXECUTIVE OFFICER
ARMAND DEHANEY
PRINCIPAL, INVESTMENTS
MIKE DUDUM
VP, INVESTMENTS
JACQUELINE FEDIDA
VP, INVESTMENTS
DONAL MAHONEY
VP, INVESTMENTS
BAILEY PLUMMER
PRINCIPAL, INVESTMENTS
CARL WEATHERLEY-WHITE
INTERIM CFO | EXECUTIVE COMMITTEE
MANDY YANG
AVP, INVESTMENTS
GREC Portfolio Activity
Greenbacker delivers 2024 results
Greenbacker Renewable Energy Company has announced annual results for 2024, including year-over-year increases in revenue, operating capacity, and power production, driven by the company’s milestone wind repowers and the new solar energy assets it brought online over the year. 2024 portfolio highlights also included Greenbacker’s development, acquisition, and beginning of construction on the largest solar project in the state of New York. Additionally, the company announced valuation adjustments and a restructuring of the business to better position the Company to capitalize on future market opportunities and deliver value to shareholders.
ORES greenlights New York’s largest solar farm; spurs start of construction
Hecate Energy LLC and Greenbacker Renewable Energy Company announce that the 674 MWdc / 500 MWac Cider Solar Farm is moving forward with construction as approved by the New York Office of Renewable Energy Siting and Transmission (“ORES”). With the ORES Siting Permit and a formal notice to proceed with construction with this flagship project, Hecate and Greenbacker reaffirm their commitments to powering New York’s clean energy future. The utility-scale solar project, spanning approximately 2,500 acres near the towns of Elba and Oakfield in Genesee County, is poised to bring transformative benefits to the region and help advance New York state’s renewable energy goals.
Greenbacker secures nearly $1 billion financing to support acquisition and construction of largest solar project in New York State
Greenbacker has secured $950 million in financing to support the acquisition, construction, and operation of its largest clean energy project to date. After acquiring the project from Hecate Energy LLC, one of the largest renewables developers in the US, Greenbacker partnered with six of the world’s leading project finance banks and financial institutions to secure $869 million in construction-to-term, letter of credit, and tax equity bridge loan financing and with a global investment manager for an additional $81 million development loan facility. When complete, the 674 MWdc “Cider” utility-scale solar farm will power over 120,000 homes as the largest solar project in the state of New York.
2025 Outlook on Energy Transition Investment
In Greenbacker’s 2025 Outlook Roundtable, available on Asset TV’s website and Bloomberg channel, heads of strategy Ben Baker, Dan De Boer, and David Zackowitz offer their insights on 2025 energy transition opportunities. Trends they see playing out next year include surging energy demand, the rising importance of grid resilience for homes and businesses, and the increasing need for datacenters to access outsized quantities of power.
Investor Center
For account-related inquiries, contact our Transfer Agent at (833) 404-4104
For completed Greenbacker paperwork:
Regular Mail
PO Box 219255
Kansas City, MO 64121-9255
Overnight Mail
430 W 7th St Ste 219255
Kansas City, MO 64105-1407