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Greenbacker acquires 19-MW deliberate Michigan photo voltaic mission

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Greenbacker acquires 19-MW deliberate Michigan photo voltaic mission

favicon Greenbacker acquires 19-MW deliberate Michigan photo voltaic mission

Greenbacker Renewable Energy has reached an settlement with Prism Power Partners to accumulate Electrical Metropolis Photo voltaic, a 19-MW construction-ready photo voltaic mission in Michigan with a 25-year municipal offtake settlement. The transaction marks one other profitable acquisition of a contracted utility-scale photo voltaic mission for Greenbacker.

“Greenbacker is worked up to accumulate a long-term contracted asset in a brand new and interesting area,” mentioned Charles Wheeler, CEO of Greenbacker. “We’re grateful for the chance to develop a relationship with Prism and are excited to assist the State of Michigan with their clear vitality targets.”

Electrical Metropolis is predicted to start building in Q1 2020 and attain industrial operations within the Summer season of 2020.

“Having began photo voltaic mission improvement efforts in Michigan in late 2017, Prism could be very happy to work with Greenbacker as our monetary associate to advance this mission into building,” mentioned Randall Wooden, Managing Member of Prism. “The Electrical Metropolis Photo voltaic mission brings important long-term financial improvement, low-cost renewable vitality and property tax advantages to the area people and the mission represents the larger market pattern in Michigan in the direction of photo voltaic as an economical supply of vitality.”

With the addition of this mission, Greenbacker will personal roughly 616.6 MW of producing capability (together with belongings which are to be constructed), comprising 177.three MW of wind amenities, 427.three MW of utility-scale and distributed photo voltaic amenities, and 12 MW of biomass amenities.

Information merchandise from Greenbacker Renewable Power

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