Greenbacker Renewable Energy Co. (GREC) has acquired the 20-megawatt West River portfolio of pre-operational solar projects from Energy of Utah. A purchase price was not disclosed.
The portfolio, which consists of the West River Solar and West River Solar II projects, has a long-term power-purchase agreement (PPA) with investment-grade utility Basin Electric Power.
Located in South Dakota, the projects are about an hour from the 80-megawatt Fall River Solar project, which GREC purchased in late 2020 from the same developer.
“We’re very excited to expand consumer access to cleaner, cheaper energy in South Dakota,” said Charles Wheeler, CEO of GREC. “We’re also pleased to be building our relationship with Energy of Utah, the original developer of the Fall River asset we acquired last year. We look forward to partnering with them on additional sustainable infrastructure projects in the future.”
Following the acquisition, Greenbacker owns some 1.1