Ben Baker discusses Greenbacker Development Opportunities Fund’s approach to investing in growth-stage clean energy companies
David Sher, Co-CEO of Greenbacker, talks about the trends transforming the future of the renewable energy asset class
The 16-project rooftop solar portfolio utilizes area atop buildings and parking structures—space that would otherwise be left idle—to help the Greater Boston area run on cheaper clean energy.
The South Street solar project is now GREC’s largest solar asset in Vermont. Once completed, 100% of the clean energy it produces will be allocated to Middlebury College.
With this investment, Greenbacker enters the floatovoltaics market, an emerging area of the renewable energy asset class with unique environmental and power production advantages.
The transaction was led by Greenbacker Capital Management, LLC investing through an affiliated fund. Proceeds of the expanded investment will be used to accelerate the development and construction of OYA’s 3GW+ pipeline across the Northeast and mid-Atlantic and to fund acquisitions. “We are grateful for Greenbacker’s continued confidence and support in us as a disciplined, rapidly growing renewable energy platform,” says Manish Nayar, CEO and Founder of OYA Solar.
As a developer and owner-operator of standalone battery energy storage projects across the US, Delorean’s projects are integral to the clean energy transition, helping the grid to better adapt to further increases in renewable energy. The growth investment from Greenbacker will allow Delorean to further scale its platform while continuing to execute and expand on its existing pipeline of energy storage projects.
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 ReneSola Power Holdings, a renewables developer with a robust pipeline of solar projects and battery energy storage systems. The two solar assets also diversify and expand Greenbacker’s fleet of sustainable infrastructure assets in a state with high demand and policy support for renewable energy.
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.
The 15-project NextSun operating portfolio expands Greenbacker’s presence within New England’s power generation landscape and includes the company’s first asset in Rhode Island.