PERQUIMANS COUNTY — Two eastern North Carolina solar facilities have been acquired by Greenbacker Renewable Energy Co. LLC for an undisclosed amount.
Greenbacker Renewable Energy acquired all outstanding equity of SunFarm V LLC and Sun Farm VI LLC, collectively the SunFarm Portfolio, through a wholly owned subsidiary
The owners of the facilities are ET Capital.
SunFarm Portfolio includes two solar photovoltaic systems comprising 13.9 megawatts located in Perquimans County, North Carolina. These projects will go into service at the end of 2018 and power will be sold to an investment grade utility off-taker through a 15-year fixed price power purchase agreement.
[A megawatt provides enough power for more than 100 homes in North Carolina, according to the Solar Energy Industries Association.]
Greenbacker
“With the SunFarm Portfolio, we add two solar assets, with an investment-grade utility off-taker, to the Company’s portfolio of solar assets in North Carolina adding to our regional presence and allowing for increased operational efficiencies,” said Greenbacker CEO Charles Wheeler in a statement.
“We continue to evaluate numerous high-quality alternative energy opportunities with a focus on investing the majority of our available cash balances over the coming months in new projects.”
Greenbacker Renewable Energy invests in renewable energy assets.
In October 2018, the company announced its completion of its 20MWac Midway III solar PV project in Imperial County, California, its largest solar asset to date.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism
