Greenbacker Renewable Energy Co., through a wholly owned subsidiary, has acquired five operating ground-mounted solar PV systems comprising 27.8 megawatts, located throughout eastern North Carolina, for approximately $20.5 million.
The Raleigh Portfolio was being sold by FTI Capital Advisors, a capital markets and banking adviser, on the behalf of the current owner, Conergy Projects.
The projects were placed in service throughout 2015, and they sell power to Duke Energy through a 15-year power purchase agreement (PPA) with approximately 13 years currently remaining.
With the addition of the Raleigh Portfolio, the company now owns approximately 149.5 megawatts of generating capacity, comprising 45.5 megawatts of wind facilities and 104.0 megawatts of commercial and residential solar facilities.