Greenbacker Renewable Company acquires a 25 MW operating wind generation facility in Montana

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Greenbacker Renewable Company acquires a 25 MW operating wind generation facility in Montana

Greenbacker Renewable Energy Company LLC has announced that through a wholly-owned subsidiary it has acquired a 25 MW operating wind generation facility located in Montana, the Greenfield Wind Farm.

The project is being sold by Greenfield Wind, LLC, which is majority owned and managed by Foundation Windpower, LLC; an experienced wind developer based in San Francisco, CA.

The total consideration for the Project is approximately US$34.5 million. In conjunction with this acquisition, the US$26 million Turbine Supply loan provided to Greenfield Wind LLC in June 2016 was repaid in full.

The project totals 25 MW comprising 13 GE 2.3-107 MW wind turbines. It is located in Teton County, MT and sells power directly to the local public utility, NorthWestern Energy, an investment grade utility company.

The facility has a 25-year fixed-rate PPA, which includes the sale of 100% of the environmental credits, with no escalation for the contract period. In total, the Project is expected to produce enough electricity to power approximately 5,525 homes for one year of typical use.

Charles Wheeler, CEO of Greenbacker, stated:

“We are extremely pleased to be purchasing our second wind asset from Foundation Windpower. As we continue to grow our portfolio of alternative energy assets, wind assets such as this Project provide a diversified revenue stream to our more summer weighted solar generation income, helping to smooth our cash flows and providing more predictable returns for our investors.”

List of country news

Country news

  • November 22, 2016

    Black Hills Corp. Utility completes purchase of the 60-MW Peak View Wind Project

    Black Hills Corp. has announced that Black Hills Energy, its electric utility subsidiary serving southern Colorado (US), closed on the purchase of the 60 MW Peak View Wind Project. Read more
  • November 22, 2016

    Etrion and Hitachi sign project financing to build 13.2 MW Komatsu Solar Project in Japan

    Etrion and Hitachi High-Technologies will build, own and operate the 13.2 MW Komatsu solar project in Japan with financing from Sumitomo Mitsui Trust Bank. Read more
  • November 21, 2016

    Microsoft signs PPAs for three wind energy projects

    Microsoft Corp. has announced its largest purchase of wind energy to date with the signing of two PPA agreements. Combined, these agreements represent 237 MW of wind energy, which brings Microsoft’s total investment in wind energy projects in the U.S. to more than 500 MW. Read more
  • November 16, 2016

    PSEG Solar Source acquires 16,8 MW solar project from Ecoplexus

    PSEG Solar Source announced it has acquired a 16,8 MW-dc solar energy facility from Ecoplexus Inc. The PSEG Turkey Creek Solar Energy Center is located in Northampton County, N.C. about 95 miles northeast of Raleigh. Read more
  • November 16, 2016

    Martin Midstream Partners announces agreement to divest of Corpus Christi Terminalling assets

    Martin Midstream Partners L.P. announced that it has entered into a definitive agreement with NuStar Logistics, L.P. to sell certain of its terminalling assets located in Corpus Christi, Texas. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.