A subsidiary of Greenbacker Renewable Energy Co. has purchased a 9.27-megawatt portfolio of three solar projects in Oregon for an undisclosed sum.
The seller was a subsidiary of BNRG Renewables, a solar project developer based in Dublin, Ireland.
The OR Solar Portfolio consists of three planned 3-megawatt ground mount projects in Oregon. According to Greenbacker, it is contracted with an investment-grade Oregon utility company under a 15-year power-purchase agreement.
With the deal, Greenbacker will own approximately 410 megawatts of generating capacity including planned assets, comprising 62 megawatts of wind facilities, 336 megawatts of utility-scale and distributed solar facilities, and 12 megawatts of biomass facilities.
BNRG will oversee the delivery of the projects to Greenbacker, which will serve as the owner and operator, while Evergreen Solar Services will act as the contractor working under BNRG’s supervision to bring the portfolio online.
The solar portfolio is BNRG’s third portfolio of projects in Oregon, according to Nick Holman, BNRG director. “We remain committed to developing projects in the US and are on track to reach our target of 250 megawatts of projects completed by 2021,” he said.
The solar portfolio is expected to reach commercial operation between November and January 2020.
