A subsidiary of Greenbacker Renewable Energy has bought the rights to build an over 15MW wind farm in the US state of Maine for an undisclosed price.
The 15.3MW RoxWind project has been developed by Palmer Management Corporation and other unnamed parties.
It is contracted to sell electricity through long-term off-take agreements with four local municipal utilities.
RoxWind is expected to come online in the third quarter of 2021.
Sheppard Mullin Richter & Hampton was the legal advisor to Greenbacker for the transaction.
Greenbacker chief executive Charles Wheeler said: “We are thrilled to continue expanding the scale and geographic diversity of our wind fleet as we acquire our first Maine-based wind facility.
“It has been a pleasure working with the Palmer team on this deal and we look forward to continuing to work with them and the town of Roxbury through the construction and start-up phases of the project.”
Palmer president Gordon Deane said: “This has been a cooperative effort with our Maine and Massachusetts partners, Horseshoe Valley Wind and Solaya Energy, as well as the Town of Roxbury which has been supportive of our efforts to bring a small wind farm on line in Roxbury.
“We expect this transaction to be the first of many with Greenbacker as they expand their portfolio of renewable energy projects.”
Greenbacker will own approximately 543.1MW of generating capacity with the addition of RoxWind.
This comprises 192.5MW of wind, 338.6MW of utility-scale and distributed solar, and 12.0MW of biomass.