Greenbacker Renewable Energy Company (GREC) has purchased a 50-megawatt operating wind farm in Iowa from RPMA Iowa Wind Development (RPMA).
The project, known as Rippey Wind Holding, is located in Greene County and has a 25-year power-purchase agreement (PPA) with the Central Iowa Power Cooperative (CIPCO) utility. The project reached commercial operations in 2012.
The deal brings Greenbacker’s portfolio to 760.7 megawatts of generating capacity, which consists of 537 megawatts of solar facilities, 192.6 megawatts of wind facilities, 19.1 megawatts of battery storage and 12 megawatts of biomass facilities.
“We’re excited to expand our wind portfolio in Iowa with RPMA,” said Charles Wheeler, CEO of Greenbacker. “GREC has experienced phenomenal growth as we near the end of 2020 and Rippey is one of our largest wind projects, typifying this acceleration of acquisitions.”
RPMA said the sale of Rippey Wind Holding will allow the company to expand i
