Greenbacker Renewable Energy Company Acquires New Solar Product Portfolio in South Dakota

The company expands its footprint in the Midwest through the construction of assets in Mount Rushmore State

New York City, New York, June 8, 2021 (GLOBE NEWSWIRE) – Greenbacker Renewable Energy Company LLC (GREC), the owner and operator of a leading sustainable infrastructure and energy efficiency project, announced today that it has adopted a A wholly-owned subsidiary purchased a 20 MW West River solar project portfolio from Utah Energy Corporation.

Two projects, West River Solar and West River Solar II, have signed a long-term power purchase agreement (PPA) with investment-grade utility Basin Electric Power.

Both projects are located in Pennington County, South Dakota, about an hour’s drive from Fall River Solar. This is an 80 MWac solar project GREC, which was purchased from the same developer at the end of 2020. The West River portfolio is expected to enter commercial operations in December 2022.

GREC CEO Charles Wheeler (Charles Wheeler) said: “We are very happy to allow consumers to get cleaner and cheaper energy in South Dakota.” “We are also very happy to establish a relationship with Utah Energy. The original developers of the Fall River assets we acquired last year. We look forward to working with them on more sustainable infrastructure projects in the future.”

Through the acquisition of these projects, Greenbacker will have approximately 1.12 GW of power generation capacity (including assets to be built), including 853.6 MW of utility scale and distributed solar facilities, 242.6 MW of wind energy facilities, 16.0 MW of battery storage, and 12.0 MW of Biomass facilities.

About Greenbacker Renewable Energy Corporation

Greenbacker Renewable Energy Company LLC is a publicly reported non-trading limited liability energy company that acquires and manages revenue-generating renewable energy and energy efficiency projects, as well as other energy-related businesses. The projects we invest in, such as solar and wind energy facilities, sell electricity to reputable counterparties such as utilities, municipalities and companies under long-term contracts.For more information, please visit www.greenbackercapital.com.

Forward-looking statements

This press release contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements are not guarantees of future performance, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be significantly different from the expected results at the time the forward-looking statements are made. Although Greenbacker believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it cannot guarantee that the expectations will be realized or that any deviations will not be material. Greenbacker assumes no obligation to update any forward-looking statements contained herein to conform to actual results or expected changes.

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