Greenbacker Renewable Energy Company LLC (“Greenbacker”) recently announced, through a wholly owned subsidiary, it purchased Wagner Wind, LLC (“Wagner Wind”) from BayWa r.e.
Wagner Wind is a 6.0 megawatt wind farm located in Palm Springs, CA that sells power to the City of Riverside, CA. Wagner Wind has a 20-year power purchase agreement, with approximately 15 years remaining as of the acquisition date. BayWa r.e. developed and constructed the facility which it placed in service in Q4 2012 and has operated continuously since that time.
“Adding a wind asset contiguous to our Golden Horizons solar facility in Palm Springs provides significant operational efficiencies in the ongoing management of both assets,” stated Charles Wheeler, CEO of Greenbacker. “As we strategically expand our portfolio of wind assets, we continue to focus on the broader strategy of acquiring premier commercial renewable energy assets with high-quality off-takers.”
With this acquisition, Greenbacker now owns 61.5 megawatts of wind power assets.
“The sale of our Wagner Wind project rounds up a successful year for our U.S. wind business and is the third project sold in 2017. We are preparing the next projects for construction and are looking forward to transacting with buyers and sellers on exciting projects,” says Florian Zerhusen, CEO of BayWa r.e. Wind, LLC.