U.S. Solar Asset Acquisition

Greenbacker Renewable Energy Company LLC. has purchased six operational solar facilities in California and Colorado from the Foresight Group. The six operational solar facilities have a total operating capacity of 10 MW.

Greenbacker Renewable Energy is an energy company that engages in acquiring and financing the construction and/or operation of income-generating renewable energy, energy efficiency, and sustainable development projects primarily in North America. Its investments in alternative energy generation portfolios cover solar and wind energy projects. The company was founded in 2012 and is based in New York, New York. Greenbacker Renewable Energy now owns generating capacity of 61.5 MW in wind facilities and 123.4 MW of commercial and residential solar facilities.

In my opinion, we are starting to see renewable energy companies begin to consolidate operational facilities. The consolidation allows companies to improve their operating efficiencies and improve their margins. In my opinion, this will ultimately lead to lower costs ($/kWh) to consumers.

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