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.
Converting pre-operating projects into assets generating revenue
Operating
54%
Pre-operating
23%
Under construction
23%
3.1 GW
total clean power generating and storage capacity
1.6 GW
total operating capacity
23%
of project fleet is in construction, expected to be built by 2027
Long-term contracted cash flows1
Investment-grade utility
80%
Investment-grade corporation
9%
Non-rated3
7%
Investment-grade municipality
4%
259
total unique offtakers contracted to purchase power from GREC
~10%
no single offtaker accounts for more than ~10% of our contracted revenue
17.4 years2
average remaining PPA term of total portfolio
Capturing value across strategic areas of the country
Solar
73%
Wind
24%
Solar + Storage
2%
Battery Storage
1%
400+
renewable energy assets4 representing a total of 3.1 GW
Diversified
across solar, wind, and storage
35 States
provinces, territories, and Washington, D.C.
Diversification does not assure a profit or protect against loss in a declining market. Some figures may not add to stated totals due to rounding.
- References to cash flow reflect project-level cash flows and do not reflect investor-level cash flow or distributions.
- Weighted average remaining contract term refers to the power purchase agreements (“PPA”) of our total assets.
- Non-rated off-takers are unrated by credit rating agencies.
- 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.
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 acquires 54 MW pre-operational wind farm in Illinois from PowerWorks
Greenbacker continues to scale its Midwestern wind portfolio, entering a new market with its first wind energy asset in Illinois. Once complete, the 54 MW Panther Creek wind farm will be the company’s largest wind project in the region.
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.
Greenbacker announces second quarter business update
Greenbacker Renewable Energy Company announces significant operating results and business updates for the second quarter of 2022.
Greenbacker’s largest solar plant reaches commercial operation in Utah
With a power capacity of 104 MWdc / 80 MWac, Graphite Solar is now the largest operational asset in Greenbacker’s clean energy fleet. The project delivers renewable energy to a nearby Meta data center and numerous benefits to the community.
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