Natural Power provided technical due diligence reviews on behalf of Greenbacker Renewable Energy Co. LLC on two recent wind plant acquisitions, Georgia Mountain Wind Farm in Vermont, and Wagner Wind in California.
Charles Wheeler, CEO and CIO at Greenbacker, said: “We trust Natural Power to deliver reliable information that we can count on to feed into our investment decisions. Its team of technical experts has shown itself to work both nimbly and efficiently when called upon.”
Holly Burnett, Vice President of Natural Power in North America, said: “The deal-making landscape in wind and solar continued to be active during 2017, and we expect 2018 to be no different. Natural Power remains committed to helping our clients assess potential acquisitions in the most accurate and considered manner possible, while understanding the tight timelines that frequently exist as part of the assessment and decision-making process.”
Greenbacker is a publicly registered, non-traded limited liability company that owns and operates a diversified portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable investments. It now owns 61.5 MW of wind power assets.
Wagner Wind LLC: Wagner Wind is a 6 MW 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. BayWa r.e. developed and constructed the facility which it placed in service in Q4 2012 and has operated continuously since that time.
Georgia Mountain LLC: Georgia Mountain Community Wind LLC (“GMCW”) located in Chittenden and Franklin Counties, Vermont, was the first commercial-scale wind project in these counties. This four-turbine, 10 MW project, which was originally developed by two local Vermont business owners, sells all of the power, as well as the renewable energy credits (“REC”), to the nearby Burlington Electric Department through a 25-year fixed-price power purchase agreement. The facility originally commenced operations on 31st December 2012, and has been operated continuously since that date.
Natural Power in North America
The team of experienced wind industry veterans at Natural Power reviewed more than a third of new wind assets in the USA on behalf of clients in 2017 and has continued to expand across the US with offices in New York and Seattle. The business provides asset management services on over 5 GW of renewable energy projects, equivalent to the top three US wind owners by capacity (according to AWEA 2015 Market Report figures). Its approach to ‘total asset management’ on operational projects includes a range of services for owners and financiers alike, including local site management and balance of plant services, advanced performance engineering analysis, remote monitoring services, and operational reporting and analysis.
About Natural Power
Natural Power is a leading independent renewable energy and infrastructure consultancy that employs 350 staff globally. The company offers proactive and integrated consultancy, management and due diligence services, backed by an innovative product range, across the onshore wind, offshore wind, wave, tidal, renewable heat, solar pv and hydro sectors, whilst maintaining a strong outlook on other new and emerging renewable energy sectors.
About Greenbacker Renewable Energy Company
Greenbacker Renewable Energy Company is a publicly registered, non-traded limited liability company that owns and operates a diversified portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable investments. As of December 31, 2017, it owns 174.9 MW of alternative energy operating assets including 61.5 MW of wind power assets.
Jane Maher, PR and Media
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