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Greenbacker takes shine to US

Foresight sells six operating PV projects in Colorado and California for $13m

Greenbacker takes shine to US image

Greenbacker Renewable Energy has bought six solar projects totalling 10MW in North America from UK-based Foresight Group for about $13m (£9.7m).

The operating systems – in Colorado and California – add to Greenbacker’s 168.9 MW renewables portfolio which consists of 123.4MW of solar facilities and 45.5MW wind projects.

The newly acquired projects came online in 2013 and 2014 and sell power to PG&E, Xcel, SCE and Colorado-based governmental agencies through 20-year power purchase agreements.

Greenbacker chief executive Charles Wheeler said: “With the Foresight portfolio, we have added six commercial solar assets with investment-grade utility and governmental agency off-takers, further diversifying the company’s portfolio.”

“Market conditions in the renewable energy market continue to be robust and we are pleased to be able to execute on great transactions while simultaneously expanding our pipeline of potential alternative energy deals which meet the company’s investment criteria.”

Image: Pixabay

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