New York, NY, March 10, 2020 (GLOBE NEWSWIRE) -- Greenbacker Renewable Energy Company LLC (“the Company”) announced today that, through a wholly owned subsidiary, the Company signed and closed a transaction to sell the entirety of its investments in the Greenbacker Residential Solar Portfolio and the Greenbacker Residential Solar Portfolio II (collectively, the “Residential Portfolios”). Coupled with the recent sale of the Enfinity Colorado DHA Portfolio in December 2019, the Company has now effectively exited the US residential solar market. The Residential Portfolios comprised 3,668 individual residential sites, which were accumulated through a series of transactions from October 2016 to July 2017 at a total cost of $34,525,000. The Residential Portfolios were sold to a leading residential solar aggregator at a considerable premium to our original cost, which enabled the buyer to achieve broad economies of scale across a much larger portfolio of residential solar roof top assets.
About Greenbacker Renewable Energy Company
Greenbacker Renewable Energy Company LLC is a publicly registered, non-traded limited liability company that acquires and manages income-generating renewable energy and energy efficiency projects, and other energy-related businesses. The projects in which we invest, such as solar and wind facilities, sell power under long-term contract to high credit worthy counterparties such as Utilities, Municipalities, and Corporations. For more information, please visit www.greenbackercapital.com
Media Contacts
| Greenbacker: Joseph Kuo / Chris Clemens Haven Tower Group 424 317 4851 or 424 317 4854 mediarelations@greenbackercapital.com |