Greenbacker wraps up 10 MW community solar portfolio

The five-project portfolio serves rural residents, school districts, nonprofits, and municipalities in Colorado.

March 30, 2021 Joe Bebon

Image: Greenbacker Renewable Energy Co.

Greenbacker Renewable Energy Co. LLC announced completion of a 10 MW portfolio made up of five community solar projects in southern Colorado.

New York City-based Greenbacker bought the projects in 2019 from Community Energy, which stayed on to handle the engineering, procurement, and construction work. Greenbacker said the portfolio also came with long-term subscription agreements with investment-grade offtakes under utility Xcel Energy’s Solar*Rewards Community program.

The five community solar projects–Alden, Monte Vista 2, Rock Creek 2, Platteville, and Alamosa Solar South–are located in rural areas of the state and service a range of subscribers. This includes a population of income-qualified households, who receive donated solar credits to help lower their monthly electric bills.

The portfolio’s commercial subscribers, including school districts, nonprofits, and municipalities, will also save on their power bills and support clean energy without having to install their own solar.

Greenbacker said it now owns around 1.04 GW of generating capacity, including assets that are to be constructed. That capacity consists of 773.5 MW of utility-scale and distributed solar facilities, 242.6 MW of wind facilities, 15.5 MW of battery storage, and 12 MW of biomass facilities.

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