Home / Businesswire / Greenbacker Renewable Energy Company LLC Acquires Rights to Three Solar Facilities, comprising 21.8 Megawatts of Generating Capacity, in eastern North Carolina

Greenbacker Renewable Energy Company LLC Acquires Rights to Three Solar Facilities, comprising 21.8 Megawatts of Generating Capacity, in eastern North Carolina

NEW YORK–(BUSINESS WIRE)–Greenbacker Renewable Energy Company LLC (“Company”) announced today
that, through a wholly-owned subsidiary, it purchased the rights to a
21.8 megawatt portfolio of three solar projects (“SE Solar Portfolio”)
located in Camden, Jamesville and Martin counties, North Carolina from
SunEnergy1 LLC. Construction of the facilities has commenced, with
closings to take place upon their reaching mechanical completion. All
three facilities are expected to achieve commercial operations in early
2019. The Company is currently working to arrange back leverage
financing as well as tax equity financing. Once operational, the SE
Solar Portfolio will sell all power generated to an investment grade
utility off taker through a 15-year fixed price PPA.

“With the SE Solar Portfolios, we continue to focus on solar assets in
North Carolina which provides significant long-term value to our
investors,” said Charles Wheeler, CEO of Greenbacker. “Over the coming
year, we expect to expand the Company’s investment in pre-operational
solar assets as we grow our solar portfolio.”

With the addition of the SE Solar Portfolio assets, the Company will own
approximately 278.7 MW of generating capacity (including assets in
development and construction) comprising 61.5 MW of wind facilities and
217.2 MW of commercial and residential solar facilities.

About Greenbacker Renewable Energy Company

Greenbacker Renewable Energy Company LLC is a publicly registered,
non-traded limited liability company that expects to acquire a
diversified portfolio of income-producing renewable energy power plants,
energy efficiency projects and other sustainable investments.

About SunEnergy1

SunEnergy1 is a top five U.S. solar developer, owner and operator of
utility-scale solar projects with close to 1GW installed. The company
has pioneered large-scale solar power on the East Coast for nearly a
decade, developing numerous record-breaking solar projects in the
region. SunEnergy1 is vertically integrated and controls all stages of
development in-house, creating affordable, low risk solar power for
corporate, institutional and utility partners. The company has the
financial strength to own and maintain a 5GW pipeline of solar-ready
development sites and over 250MW of owned solar facilities. For more
information about SunEnergy1, please visit www.sunenergy1.com.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the federal securities laws. Forward-looking statements are
not guarantees of future performance and involve known and unknown
risks, uncertainties and other factors that may cause the actual results
to differ materially from those anticipated at the time the
forward-looking statements are made. Although the Company believes the
expectations reflected in such forward-looking statements are based upon
reasonable assumptions, it can give no assurance that the expectations
will be attained or that any deviation will not be material. The Company
undertakes no obligation to update any forward-looking statement
contained herein to conform to actual results or changes in the
Company‘s expectations.

Contacts

David Sher
Director, Greenbacker Renewable Energy Company
LLC
917-309-1234