Greenbacker Renewable Energy Co. LLC (GREC), an owner and operator of sustainable infrastructure and energy efficiency projects, has purchased the Altamont Winds Project from funds managed by Castlelake LP, a global alternative investment manager.
At 57.5 MW, it is the single largest asset in Greenbacker’s wind portfolio. The project – Greenbacker’s second wind asset in California – boosts the company’s total nationwide wind energy capacity to just over 300 MW.
Located in Alameda County, the project harnesses wind from the Altamont Pass, an area home to operating wind assets since the 1980s. The project is also near the Bay Area load pocket, giving it strategic value from the perspective of future energy usage and capacity needs.
The Altamont Winds Project, which is in final stages of commissioning, has a long-term power purchase agreement with East Bay Community Energy, a community choice aggregator.
“We’re thrilled to help expand Californians’ energy options and contribute to the growing CCA availability in the Sunshine State,” says Charles Wheeler, CEO of GREC. “Sizable wind facilities like Altamont Winds are increasingly necessary to meet our rising energy needs, and we’re happy to play a role in providing clean energy to the Bay Area.”
Greenbacker’s purchase of Altamont is the most recent addition to its growing fleet of wind energy facilities. It follows the acquisition of Rippey Wind, a 50 MW operational wind farm in Iowa.
With the acquisition of this project, Greenbacker will own approximately 1.18 GW of generating capacity (including assets that are to be constructed), comprising 855.4 MW of utility-scale and distributed solar facilities, 300.1 MW of wind facilities, 16 MW of battery storage, and 12 MW of biomass facilities.
