Greenbacker Renewable Energy Company (GREC) has purchased a to-be-constructed 80 MW solar project from Broad Reach Power.
The project, Fall River Solar, is located in Fall River County, South Dakota and has a 20-year Power Purchase Agreement (PPA) in place with the investment-grade utility Black Hills Power (BHP).
Greenbacker will oversee the construction which is expected to reach COD in Q4 2022.
“We’re excited to have worked with Broad Reach Power on our largest solar project to date. Expanding our solar portfolio in South Dakota will provide a clean energy option and a source for local employment in the state. We see tremendous potential in large scale pipeline investments such as Fall River Solar for both the people of South Dakota and our shareholders.”Charles Wheeler, CEO of Greenbacker.
“We also enjoyed our collaboration with the Greenbacker team and look forward to seeing this project continue to advance.”Broad Reach Power managing partner and CEO Steve Vavrik.
With the acquisition of Fall River Solar, Greenbacker will own approximately 753.5 MW of generating capacity (including assets that are to be constructed), comprising 529.8MW of utility-scale and distributed solar facilities, 192.6MW of wind facilities, 19.1 MW of battery storage, and 12.0MW of biomass facilities.