A subsidiary of Greenbacker Renewable Energy has acquired the Altamont wind farm in the US state of California from funds managed by Castlelake for an undisclosed price.
The 57.5MW project is the single largest asset in Greenbacker’s wind portfolio and its second wind farm in California.
Altamont is located in Alameda County, near the Bay Area load pocket, giving it strategic value from the perspective of future energy usage and capacity needs, Greenbacker said.
It is in final stages of commissioning and has a long-term power purchase agreement with East Bay Community Energy, a community choice aggregator.
Castlelake managing partner Evan Carruthers said: “Castlelake congratulates Greenbacker on its acquisition of the Altamont Winds project.
“We are pleased to have played a part in bringing additional renewable energy capacity to the Bay Area through this development project.”