US developer Greenbacker Renewable Energy has acquired an 80MW solar project in Montana from Broad Reach Power.
The project, MTSun Solar, is under development in Yellowstone County, with an expected commercial operation date of July 2022.
It has a 25-year power purchase agreement (PPA) in place with Northwestern Energy.
Greenbacker CEO Charels Wheeler said: “We’re thrilled that our continued relationship with Broad Reach Power has allowed our fleet of renewable energy projects to exceed one gigawatt of power generation capacity.
“The fact that this milestone coincides with Greenbacker Capital Management celebrating 10 years of sustainable infrastructure investing makes it all the more special.”
Greenbacker’s portfolio’s total enterprise value passed $1bn for the first time recently.
MTSun was developed by Broad Reach Power, an independent power producer based in Houston which owns a 16GW portfolio of utility scale solar and energy storage power projects in Montana, California, Wyoming, Utah and Texas.
With the acquisition of MTSun Solar, Greenbacker will own approximately 1.04GW of generating capacity (including assets that are to be constructed), comprising 773.5MW of utility-scale and distributed solar facilities, 242.6MW of wind facilities, 15.5MW of battery storage, and 12MW of biomass facilities.