GREENBACKER RENEWABLE ENERGY COMPANY
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.
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.
1 Inception to date (“ITD”) returns are annualized consistent with the IPA Practice Guideline 2018.
2 There is no assurance GREC will pay distributions in any particular amount, if at all. Any distributions will be at the discretion of the board of directors. GREC may fund distributions entirely from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, or offering proceeds. In no event, however, shall funds be advanced or borrowed for the purpose of distributions if the amount of such distributions would exceed the accrued and received revenues for the previous four quarters, less paid and accrued operating costs with respect to such revenues, and costs shall be made in accordance with generally accepted accounting principles, consistently applied. For the quarter ending September 30, 2021, 100% of distributions were funded from a return of principal. By funding distributions with a return of principal to investors, GREC will have less money to invest, which may lower its overall return. For a historical breakdown of the distribution funding sources, please see GREC’s SEC filings.
3 Monthly share value as of January 3, 2022. 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.
4 Returns shown 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.
AS OF 9/30/21
GROSS INVESTMENT VALUE*
RATED SYSTEM CAPACITY²
NUMBER OF ASSETS²
WEIGHTED AVERAGE REMAINING TERM LENGTH
STATES, PROVINCES, TERRITORIES AND DISTRICTS
Portfolio metrics are unaudited and subject to change.
¹Gross investment value (GIV) reflects the fair market value of our assets and cash as reported on GREC's latest quarterly financial statements, as well as project-level debt related to our projects. GIV amounts are unaudited and subject to change.
²Prior 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.
EVP, STRUCTURED FINANCE | EXECUTIVE COMMITTEE
CHIEF INVESTMENT OFFICER | EXECUTIVE COMMITTEE
CO-CEO | EXECUTIVE COMMITTEE
GREC Portfolio Activity
Greenbacker’s largest sustainable infrastructure project in Maine powers 4,500 homes and supports local clean energy jobs.
The company shows significant quarter-over-quarter and year-over-year growth across revenue, production, and fleet size, as well as expanding land stewardship goals.
The projects—Athens Ridge (3.8 MWdc) and Mars Hill (2.8 MWdc)—deepen Greenbacker’s relationship with a renewables developer with a robust pipeline of solar projects and battery energy storage systems.
The Fillinona project, located on four sites across Minnesota, builds out Greenbacker’s operations in a state with robust clean energy goals and illustrates the company’s holistic approach to land management.
Greenbacker Renewable Energy Company LLC is a publicly reporting, non-traded, limited liability company that acquires and manages income-generating renewable energy projects and other energy-related businesses.