Greenbacker locks financial obligation for 160 MW of fresh solar in S Dakota, Montana
- Greenbacker Renewable Energy Company LLC (GREC) has actually sealed a credit contract to obtain USD 186.2 million (EUR 186.8 m) in debt to bankroll the building and construction of 160 MW of solar projects in Montana and also South Dakota.
The financing has been expanded by KeyBank NA and also Fifth Third Bank, the eco-friendly energy investor as well as independent power producer claimed last week. KeyBank worked as administrative representative for the lenders, and also KeyBanc Capital Markets and Fifth Third Bank, National Association served as joint lead arrangers of the deal.
Greenbacker will certainly assign the fresh capital to construct the MTSun photovoltaic or pv (PV) park in Montana's Yellowstone County and also the Fall River plant in the Fall River County of South Dakota. Each plant will certainly have an ability of 80 MW and will certainly be gone through a long-lasting power purchase contract (PPA).
MTSun's future output will be sold to utility Northwestern Energy, while the electricity from the Fall River park is acquired by Black Hills Power Inc for twenty years. Jointly, the solar farms are expected to create electricity to cover the consumption of over 34,000 homes.
Greenbacker obtained the two projects from developer Broad Reach Power in 2020 and 2021.