CleanCapital Adds 64 Solar Sites Across US in Greenbacker Deal

• Investment platform CleanCapital has bought a 51.2-MW, 64-project solar portfolio spanning 13 U.S. states from Greenbacker, lifting its distributed-generation assets beyond 450 MW.

CleanCapital has struck one of the biggest transactions in its decade-long history, purchasing a 51.2-MW portfolio of operating solar parks from Greenbacker Renewable Energy Company LLC. The package folds 64 distributed-generation (DG) projects into CleanCapital’s books, expanding its footprint to more than 350 operating and in-construction solar and storage assets nationwide.

The newly acquired projects are scattered across 13 states—including New York, California, Texas and Illinois—and comprise a mix of rooftop and ground-mounted systems. With the deal closed, CleanCapital’s DG fleet now exceeds 450 MW of capacity in 27 states, underscoring the New York-based investor’s strategy of aggregating smaller, cash-flowing arrays into an institutional-scale portfolio.

“Continued investment in operating assets is critical to satisfying ever-increasing energy demand across the U.S.,” said Julia Bell, CleanCapital’s chief investment officer, calling the package “a textbook example” of the value embedded in distributed assets. She stressed that the company’s in-house due-diligence and asset-management platform makes it uniquely suited to handle heterogeneous portfolios at scale.

The projects predominantly serve municipal, university, school and hospital (MUSH) customers, along with a roster of commercial offtakers. That customer blend provides long-dated power-purchase agreements and stable revenues while delivering clean electricity directly where it is consumed—reducing grid congestion, lowering local energy costs and helping public-sector clients meet decarbonisation targets.

For Greenbacker, the divestment realises value from assets it had assembled over several years, freeing capital for new development while leaving the company with an 8-GW pipeline of solar, wind and storage projects. The sale aligns with the investor’s stated goal of recycling capital to accelerate the U.S. energy transition. CleanCapital, meanwhile, says it still has “considerable dry powder” for additional bolt-on buys in what it sees as a sellers’ market for operating DG portfolios.