Greenbacker Renewable Energy has purchased the rights to a 2-turbine, 5-megawatt wind project from Cornerstone Renewables. Terms of the transaction were not disclosed.
Located in Russell, Mass., the project known as Holiday Hill is contracted to sell electricity through 25-year offtake agreements with three local utilities. The project commenced operations in fourth quarter 2019.
“The Holiday Hill project is an excellent addition to Greenbacker’s wind portfolio, providing long-term, investment-grade cashflows and furthering the expansion of our operating wind portfolio,” said Charles Wheeler, CEO of Greenbacker. “It has been a pleasure working with Cornerstone Renewables to bring this project to fruition.”
David Blittersdorf, renewable energy entrepreneur and owner of Cornerstone Renewables, added, “The carbon emissions crisis demands immediate action. Wind energy absolutely must be part of the solution.”
With the addition of Holiday Hill, G
