INSIGHTS
A landmark COP28 deal for the energy transition
The IEA’s World Energy Outlook 2023 – Key takeaways, opportunities, and the impact of the IRA
Greenbacker Principal Quinn Pasloske discusses infrastructure investment opportunities in the energy transition, including the company’s first investment in green molecules
Greenbacker – Invest4Impact Replay 2023
An open letter on the resilient nature of Greenbacker’s sustainable infrastructure investments
The Case for Infrastructure and Renewables Outlook 2023
PRESS ROOM
Relevate Power Secures $15 Million Initial Investment from Greenbacker Capital Management and an affiliate of Aegon Asset Management
Relevate Power, a leader in the redevelopment of run-of-river hydropower assets, secured a $15 million investment in the first close of a significant growth equity raise, led by Greenbacker Development Opportunities Fund (“GDEV”) and Aegon Real Assets US. Benjamin Baker, Managing Director of GDEV said, “We are pleased to contribute to this round of funding, reaffirming our support for Relevate Power’s approach to hydropower redevelopment. Relevate’s work is crucial for the ongoing transition to a more sustainable energy system.
Greenbacker announces additional information regarding the Annual Meeting of Shareholders originally scheduled for May 30, 2024
Notice is hearby given that the Greenbacker Renewable Energy Company LLC Annual Meeting of Shareholders originally scheduled for May 30, 2024 at 9:00 a.m. Eastern Time was adjourned due to lack of sufficient votes. The date of the Annual Meeting of Shareholders has been rescheduled to Tuesday, July 30, 2024 at 9:00 a.m. Eastern Time.
Greenbacker delivers first quarter results
Greenbacker Renewable Energy Company has announced financial results for the first quarter of 2024, including year-over-year increases in revenue, operating capacity, and clean power production, as well as quarterly highlights including the completion of a $437 million financing for Greenbacker’s milestone repower portfolio and the expansion of the firm’s leadership team. The latter included appointing a new CFO and filling the newly created Head of Capital Markets position, which followed the late-2023 addition of the new Head of Infrastructure position. “We’re excited to have the right team in place at the right time, and we look forward to capitalizing on the opportunities we see across the energy transition investment landscape,” said CEO Charles Wheeler.
Greenbacker completes $437 million financing for repowers in company milestone: first wind repowers to leverage the domestic content bonus
These repowers mark a significant energy transition milestone for Greenbacker, as they’re among the first clean energy projects to qualify for both the 30% investment tax credit and the 10% domestic content bonus newly established under the Inflation Reduction Act. They also represent Greenbacker’s first projects financed via sale-leaseback, enhancing upfront proceeds and transaction efficiency by capturing the benefits of tax equity financing and back leverage lending in one transaction.
Greenbacker Development Opportunities releases 2023 Impact Report
The Greenbacker Development Opportunities Funds (collectively, “GDEV”), investment vehicles affiliated with Greenbacker Capital Management that make growth capital investments in sustainable infrastructure and renewable energy platforms, have released their 2023 Impact Report. “GDEV is focused on enabling the development of renewable power generation and the transition to a carbon-free electrical grid,” said Benjamin Baker, Managing Director of GDEV. “We’re proud to showcase our steadfast commitment to clear and actionable policies within Greenbacker and across our portfolio companies to work towards a brighter, greener future.”
Greenbacker delivers 2023 results
Greenbacker Renewable Energy Company has announced financial results for 2023, detailing annual revenue and year-over-year growth in operating capacity and clean energy generation, as well as annual highlights that include the company’s first wind asset repowers, its milestone monetization of IRA incentives, and the launch of Greenbacker Capital Management’s fourth sustainability driven investment strategy, focused on Energy Transition Real Estate. “After continuing to accelerate Greenbacker’s growth in 2023, we look forward to pushing the boundaries even further in 2024,” said Greenbacker CEO Charles Wheeler.
Greenbacker grows investments team to continue push into Energy Transition Real Estate, hires new Head of Acquisitions
Greenbacker Capital Management is pleased to announce the expansion of its real estate investments team with the hire of Evan Sherman as Head of Real Estate Acquisitions. Sherman’s addition bolsters the capabilities of GCM’s fourth sustainability-driven investment strategy, which focuses on acquiring undervalued real estate where the company can leverage access to the grid to host distributed generation, storage, and EV charging infrastructure. Sherman rejoins former Blackstone colleague, David Zackowitz, who launched Greenbacker’s sustainable real estate business in 2023.
Lightshift Energy raises $100 million from Greenbacker Capital Management to expand utility scale battery storage across North America
Lightshift Energy, formerly known as Delorean Power, announced capital infusions totaling $100 million from Greenbacker Capital Management LLC (“GCM”). The company has secured $20 million from a GCM-affiliated investment vehicle dedicated to making growth equity investments in sustainable infrastructure development platforms. These funds will be used to scale Lightshift’s team, accelerate sales, and grow its pipeline. In addition, Lightshift has secured $80 million from a second GCM-affiliated investment vehicle that invests in sustainable infrastructure assets. This capital will support the construction and operations of Lightshift’s portfolio.
Greenbacker Capital Management’s largest clean energy asset to date enters commercial operation
Greenbacker Capital Management announced that its largest operating asset to date has entered commercial operation. The 240 MWdc / 200 MWac utility-scale Appaloosa Solar 1 began delivering solar energy on January 24, 2024, helping contribute to Meta’s 100% renewable energy and net zero goals. In addition to representing a company milestone, the financing for the project also marked one of the first tax equity transactions to utilize the solar production tax credit newly expanded by the Inflation Reduction Act.
Greenbacker announces new Chief Financial Officer, expands team with new Head of Infrastructure and Head of Capital Markets
Greenbacker is pleased to announce the appointment of Christopher Smith, CFA as CFO, effective February 1, 2024. Greenbacker also welcomes Daniel De Boer as Head of Infrastructure and Carl Weatherley-White as Head of Capital Markets. These newly created roles, integral to the firm’s growth, underscore Greenbacker’s expanding strategy, capability, and commitment to investing in the energy transition.