GREENBACKER RENEWABLE ENERGY COMPANY
GREC Shareholders:
Vote to re-elect board members by the May 31, 2022 shareholder annual meeting.
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.
PERFORMANCE OVERVIEW
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, or borrowings. 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 December 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 May 1, 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.
PORTFOLIO STATISTICS
AS OF 12/31/21
$1.90 B
GROSS INVESTMENT VALUE1
2.63 GW
RATED SYSTEM CAPACITY²
404
NUMBER OF ASSETS²
16.3 YEARS
WEIGHTED AVERAGE REMAINING TERM LENGTH
35
STATES, PROVINCES, TERRITORIES AND DISTRICTS
Portfolio metrics are unaudited and subject to change.
¹Gross investment value (GIV) reflects the fair 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.
TEAM

ELLE BRUNSDALE
INVESTMENTS ASSOCIATE

MIKE DUDUM
INVESTMENTS ASSOCIATE

JACQUELINE FEDIDA
VP, INVESTMENTS

NEERAV JASHNANI
VP, INVESTMENTS

DONAL MAHONEY
INVESTMENTS ASSOCIATE

SPENCER MASH
EVP, STRUCTURED FINANCE | EXECUTIVE COMMITTEE

MEHUL MEHTA
CHIEF INVESTMENT OFFICER | EXECUTIVE COMMITTEE

BAILEY PLUMMER
VP, INVESTMENTS

BEN TILLAR
VP, INVESTMENTS

CHARLES WHEELER
CO-CEO | EXECUTIVE COMMITTEE

DELLA XU
ASSOCIATE, INVESTMENTS

MANDY YANG
ASSOCIATE, INVESTMENTS
GREC Portfolio Activity
Greenbacker delivers first quarter results
Greenbacker announces substantial year-over-year expansion in operating capacity, fleet size, production, revenue, and investments value, with net assets reaching a record high of over $1.5 billion.
Greenbacker acquires 55 MW operating wind project in New York
Greenbacker has purchased the Howard wind project, a 55.4 MW operational wind farm, from BlackRock. Howard is now the second largest asset in the company’s wind fleet and also marks Greenbacker’s first wind project in New York, where it supports local green energy jobs and produces enough clean energy to power approximately 12,500 homes a year.
Greenbacker acquires three New York solar projects totaling 50 MWac
Greenbacker announced today that it has purchased three pre-operational, utility-scale solar projects in New York from Hecate Energy. The projects, which are slated to reach commercial operation in 2023, will deliver 50 MWac of solar power to consumers in the tri-state area, generating enough clean energy to power nearly 10,000 homes.
Greenbacker secures $76 million credit agreement with Fifth Third Bank and PNC Capital Markets
Greenbacker has entered into a senior credit agreement of $76.3 million with Fifth Third Bank and PNC. Morgan Stanley Renewables Inc. served as tax equity investor. Greenbacker will use the credit facility to expand its Celadon portfolio of solar projects, which comprises 36 projects totaling 107 MWdc of clean energy–generation capacity.
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