Greenbacker Capital Management Powers Up Utah's Largest Solar Farm
- Greenbacker Capital Management launches its largest clean energy asset, the 200-MW Appaloosa Solar 1 solar farm, expected to eliminate 395,000 metric tonnes of carbon emissions in its first year.
Greenbacker Capital Management (GCM) has announced the launch of its largest clean energy asset, the 200-MW Appaloosa Solar 1 solar farm in Utah. The project is expected to eliminate 395,000 metric tonnes of carbon emissions in its first year of operation. GCM acquired the project in late 2022 and developed it in partnership with rPlus Energies. The solar farm has a long-term power purchase agreement with utility PacifiCorp to support Meta Platforms Inc's regional operations.
The financing for Appaloosa utilized the solar production tax credit (PTC), which was expanded by the Inflation Reduction Act. GCM also mentioned that the 80-MW Graphite Solar project, located in the same county, was switched on in July 2023 and was developed by rPlus. Both projects contribute to the goal of sustainable infrastructure investment and clean energy production.
What is the significance of Greenbacker Capital Management's Appaloosa Solar 1 solar farm in Utah?
- The Appaloosa Solar 1 solar farm in Utah is the largest clean energy asset launched by Greenbacker Capital Management (GCM).
- The project is expected to have a significant impact on reducing carbon emissions, with an estimated elimination of 395,000 metric tonnes of carbon emissions in its first year of operation.
- GCM acquired the project in late 2022 and collaborated with rPlus Energies to develop it.
- The solar farm has a long-term power purchase agreement with utility PacifiCorp, which will support Meta Platforms Inc's regional operations.
- The financing for the Appaloosa Solar 1 project utilized the solar production tax credit (PTC), which was expanded by the Inflation Reduction Act.
- GCM also mentioned the Graphite Solar project, an 80-MW solar project located in the same county, which was switched on in July 2023 and developed by rPlus.
- Both the Appaloosa Solar 1 and Graphite Solar projects contribute to the goal of sustainable infrastructure investment and clean energy production.
