Greenbacker Capital buys solar project developer Noria Energy

• Sustainable facilities financier Greenbacker Capital Management LLC has set foot in the floating solar photovoltaic or pv (PV) market by making an equity investment in California-based solar programmer Noria Energy.

The calculated financial investment was made with an associated fund of Greenbacker Capital, the latter said on Tuesday. The step will help with the expansion of the target's platform and also grow its existing pipe of ground-mounted as well as floating solar projects.

Being energetic because 2018, Noria is a firm that develops, constructs, possesses as well as operates solar PV plants, including behind-the-meter centers, in the United States and Latin America. Presently, it is establishing over 200 MW of floating and also ground-mounted PV plans for the requirements of industrial and also commercial clients, wastewater therapy plants and also hydropower terminals. In March last year, Noria brought online a 4.8-MW floating PV array for the City of Healdsburg in California's Sonoma County, which is the biggest of its kind in the US.

"The Noria group's track record and innovation in the space, along with their general solar advancement knowledge, place them well to proceed broadening and contributing to a clean energy future," claimed Ben Baker, managing supervisor of the Greenbacker Capital fund.

Earlier this month, Greenbacker Capital invested USD 20 million (EUR 17.7 m) in utility-scale energy storage designer Delorean Power LLC.