Greenbacker Renewable Energy Company, an investor and product sponsor that focuses on income-producing renewable energy projects, has acquired the Eagle Valley Clean Energy Biomass Project to continue its support of clean energy products for investors,
Located in Gypsum, Colo., the 12 megawatt power plant generates electricity from the combustion of waste wood. The plant sells all of the energy generated to a not-for-profit Rural Electric Cooperative providing electricity to over 55,000 members. Terms of the deal were not disclosed.
“Eagle Valley showcases Greenbacker’s proven ability to source unique transactions that we believe will provide compelling and predictable returns to investors over the long term, while also producing measurable environmental impact. Besides providing renewable energy to the Western Slope of Colorado, this facility is a piece of the U.S. Forest Service’s initiative for the disposal of pine beetle infested wood from the local forests helping to reduce the risk of catastrophic wildfire in the area,” said Charles Wheeler, CEO of Greenbacker.
Greenbacker owns a diversified portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable investments.