Greenbacker Obtains Two New York Solar Projects

Aug 12, 2021 07:22 PM ET
  • Greenbacker Renewable Energy Company LLC's subsidiary has acquired 2 utility-scale solar projects from Hecate Energy LLC. The purchases of Hecate Energy Albany 1 LLC as well as Hecate Energy Albany 2 LLC, both 20 MW AC, broaden Greenbacker's reach into New York.

Both projects lie in Albany County as well as included long-term contracts already in place with investment-grade offtakers. Albany 1 is gotten with the New York State Energy Research and Development Authority, while Albany 2 will offer power to Connecticut power companies Eversource and also United Illuminating Company.

The solar facilities are slated to begin construction in the 3rd quarter of 2021 and reach business operations in summertime 2022.

" We aspire to broaden access to cleaner, more affordable power alternatives that can more dependably meet the expanding energy requirements of New york city, a state that Greenbacker has called house for one decade," states Charles Wheeler, Chief Executive Officer of GREC. "We're delighted that by working together on this solar portfolio with Hecate Energy, and also various other projects in the future, we have the ability to sustain regional jobs for New Yorkers as well as help the state achieve its enthusiastic tidy power goals."

" Hecate is proud to companion with Greenbacker to bring these two solar projects online and also aid deal with the growing obstacle of environment change, as well as we look forward to many similar projects in the future," proclaims Chris Bullinger, Hecate's CEO. "Greenbacker is a pioneer in advancing renewable energy via the smart release of capital right into industry-leading projects that will help to make a distinction, as well as we're really pleased with the advancement of this collaboration."

With the procurement of this portfolio, Greenbacker will have about 1.18 GW of creating capacity, consisting of 855.4 MW of utility-scale and also dispersed solar facilities, 300.1 MW of wind facilities, 16 MW of battery storage space, and 12 MW of biomass centers.

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