Sustainable Infrastructure
Greenbacker commits to exclusive, long-term recycling partnership with SOLARCYCLE
SOLARCYCYCLE was chosen as a partner because the recycler can meet Greenbacker’s rigorous sustainability and compliance goals for retired solar panels, including rapid testing for overall health and potential reuse of panels; low-cost, eco-friendly recycling to extract core materials; and advanced tracking and reporting of sustainability metrics.
Greenbacker partners with RBC Community Investments to complete one of clean energy industry’s first solar PTC deals
The $148 million financing commitment—one of the first ever tax equity deals to utilize the solar production tax credit—will help finance Greenbacker Capital Management’s largest solar power project to date: the 240 MWdc Appaloosa Solar project in Iron County, Utah.
Greenbacker acquires largest standalone energy storage project to date
With a total power capacity of 30 MW and the ability to store up to 120 MWh of energy, the to-be-constructed Holtville BESS project can store enough energy to power over 4100 homes for a 24-hour period. It’s also now the largest standalone battery storage asset in Greenbacker’s clean energy fleet.
rPlus Energies and Appaloosa Solar 1 project partners launch the ‘Local First – Appaloosa Solar 1 Scholarship’, committing $120,000 to students of Iron County, UT
The $120,000 scholarship is specifically for students residing in Iron County, UT—home to Greenbacker’s 240 MWdc Appaloosa solar project—who plan to pursue their career goals locally. The Local First scholarship series assists communities in meeting their workforce needs by providing tuition for local certificate and degree programs.
Growth Capital
Telyon announces investment from Greenbacker Capital Management
Greenbacker has completed a strategic investment to acquire a significant minority stake in Telyon, a Connecticut-based renewable energy development firm specializing in the origination, financing, construction, and ongoing operations and maintenance of onsite solar, community solar, battery storage and electric vehicle charging infrastructure projects across the US.
Waste-to-value and low-carbon infrastructure leader Nexus PMG raises $50 million to accelerate its services and development efforts
Nexus PMG has announced a $50 million growth equity round, led by an affiliate of Greenbacker Capital Management. The growth equity infusion will drive services expansion, and accelerate in-house development platforms focused on renewable natural gas and sustainable aviation fuel production.
Peak Power raises $35 million to ramp up expansion of its energy storage optimization software into the US
Led by Greenbacker Capital Management, the financing will accelerate Peak Power’s expansion of its energy storage platform, which includes optimization software and turnkey project development solutions for commercial and industrial customers and energy storage project developers across New York, Massachusetts, Virginia, and California.
Electric vehicle fleet-as-a-service pioneer Revolv raises $15 million to support growing demand for decarbonized commercial fleets
Led by Greenbacker Capital Management, the Series A financing will accelerate Revolv’s roll-out of medium to heavy-duty vehicles in California and across North America.
Sustainable Real Estate
Greenbacker hires new Head of Real Estate Investments
Greenbacker Capital Management is pleased to announce that David Zackowitz has been hired as the firm’s new Head of Real Estate Investments. He will lead GCM’s fourth sustainability driven investment strategy, focused on acquiring commercial and residential property where the company can reduce emissions and energy use intensity, as well as add additional sources of renewable power.
Corporate Financing
Greenbacker secures $75 million in warehouse facility financing
Greenbacker has closed on a new warehouse financing facility in an initial aggregate principal amount of $75 million, with the potential to increase up to $250 million. Greenbacker will deploy borrowings from the facility into investments across its solar, solar-plus-storage, and standalone energy storage portfolios.
Greenbacker partners with RBC Community Investments to complete one of clean energy industry’s first solar PTC deals
The $148 million financing commitment—one of the first ever tax equity deals to utilize the solar production tax credit—will help finance Greenbacker Capital Management’s largest solar power project to date: the 240 MWdc Appaloosa Solar project in Iron County, Utah.
Greenbacker closes new $150 million senior secured sustainability revolving credit facility
Greenbacker announced that it completed the closing of a new $150.0 million senior secured sustainability revolving credit facility. The closing of the credit facility reaffirms Greenbacker’s position among renewable energy companies as a well-capitalized owner and operator with access to capital through market cycles.
Greenbacker secures $186 million credit agreement with KeyBank and Fifth Third Bank
Greenbacker has entered into a senior credit agreement with KeyBank N.A. and Fifth Third Bank. The transaction is one of Greenbacker’s largest standalone debt financings to date, providing a construction loan facility to build two of the biggest solar projects in company history.