Greenbacker Renewable Energy Company, a large multinational corporation specializing in clean energy deals has recent developments in the renewable energy space.
Greenbacker focuses on energy, investment management, renewables investment, infrastructure, and making an impact in their specialized industry. This company has 100-250 employees, $25-100M in capital, and $142M in funding. T
Their competitors include Anania and Associates, ACA Foreside, and Aventicum Capital Management. Greenbacker claims that renewables are continuing to rise as a leading source of electricity in the US.
Investing in Solar and Renewable Energy
In two recent transactions in May, Greenbacker Renewable Energy purchased two plants of 50 MW and 55 MW of power in New York. It seems they are considering investments on the east coast and have demonstrated interest of solar and renewable energy in this area.
This may be because they foresee the industry moving to that landscape. Traditionally, solar energy and renewable energy is in more flat and western areas because of the geography and population. Going operational in 2023, the first power plant was sold to Greenbacker Renewable Energy Company by Hecate Energy LLC.
The plant can power 9,500 homes. The two companies have decided to build more plants in New York in the coming years. This solar plant is in Greene County in New York. The second power plant is in Steuben County, NY. It is a 55.4MW power plant sold by BlackRock Global Renewable Power Fund II. It is the world’s second-largest wind fleet and has been in operation since 2011, powering 12,500 homes.
Greenbacker Renewable Energy states “…it has a portfolio of over 2.6 GW of assets including projects that are yet to be constructed.”, a statistic that is important because it brings with it the idea of further developments in their portfolio, developments on their real estate, and developments in technological advancement of renewable energy as that is a large amount of resources going towards renewable energy, something which may excite the industry.
Peace in Lebanon Creating Investment Opportunities
In related news, the Lebanese government has issued 11 licenses for 165MW of electric power throughout their country. With strong solar irradiance and cheap cost of electricity, the power plants will become operational since the deal started in 2017.
They are 25 yearlong tariffs in place, bringing reasonable amounts of capital to the Lebanese people and government. This is important because there is a dramatic situation on Lebanese ground, with war, conflict, and strife seen.
The Lebanese people are dealing with loss of electric power and economic disarray following terrorist activities, so this deal brings strong force of peace and prosperity to an otherwise struggling nation.