Greenbacker Renewable Energy Buys 10.8 MW portfolio From Sol Systems

The two projects, Project Blue Star and Project Phoenix, which are collectively known as the the Phoenix Solar Portfolio, are located in Kent County and Prince Georges County, Maryland.

Greenbacker Renewable Energy has announced today that it has purchased the rights to a 10.8 MW portfolio of two solar projects from Sol Systems.

The two projects, Project Blue Star and Project Phoenix, which are collectively known as the the Phoenix Solar Portfolio, are located in Kent County and Prince Georges County, Maryland. The projects are slated to be commissioned by June 2019

Project Blue Star is a 7.8 MW has a 25 year power purchase agreement for 25 years with Washington College, a private liberal arts college founded in 1782.

Project Phoenix is a 3 MW project located in Capitol Heights, Maryland and has a PPA with WGL Holdings, a public utility holding company serving the greater Washington DC area.

“The Phoenix Solar Portfolio is an excellent addition to the Company’s solar portfolio, providing long-term, investment grade cash flows and furthering the Company’s targeted expansion into net-metered and utility scale wind and solar assets”, said Charles Wheeler, CEO of Greenbacker Renewable Energy.

“Sol Systems has proven its ability to deliver high quality projects and we are excited to deepen our relationship with one of the leading renewable energy firms in the United States,” he further added.

“Sol Systems is delighted to reach this milestone for these projects, and to work with such dedicated professionals from the Greenbacker team,” said Andrew Gilligan, VP of Development at Sol Systems.