The 16 installations in the portfolio all entered operation between the third quarter of 2018 and the second quarter of 2020, and each has an offtaker contracted for its generation.
Greenbacker Renewable Energy Company said that it has, through a subsidiary, purchased a 16.3MW operational solar portfolio from developer ECA Solar and Alliance Fund II, a sustainable infrastructure fund.
The portfolio, located entirely in Massachusetts, comprises 16 rooftop solar projects, with two of those projects also featuring installations on adjacent parking structures. All 16 of the projects have already achieved commercial operation, coming online between the third quarter of 2018 and the second quarter of 2020. The portfolio is also spread across multiple project sites, with each installation ranging in capacity from 0.3MW to 4.2MW.
Each of the projects has long-term supply contracts in place with offtakers, including local businesses, utilities, municipalities, and local government agencies.
According to Greenbacker, the addition brings the company’s fleet of sustainable infrastructure projects to approximately 2.6GW of generating capacity, with that figure also including projects that have yet to reach construction.
Another of the projects contributing to that portfolio was announced just over a week ago, when Greenbacker acquired a 6.5MW to-be-constructed solar project from Encore Renewable Energy, set to be built in Middlebury, Vermont.
The project, called South Street solar, has a power purchase agreement in place with nearby Middlebury College, with the college contracting for 100% of the electricity generated by the installation. There are also plans to add an energy storage system to the installation, though specifics on that project have not yet been made available.
In November, Greenbacker bought two to-be-built solar projects in Maine from ReneSola Power Holdings. The projects are the Athens Ridge solar project, a 3.8 MW array set to be constructed in Athens, Maine, north of Augusta, and the Mars Hill solar project, a 2.8 MW array slated for Mars Hill, on the state’s border with Canada.
