Greenbacker Renewable Energy Co. LLC (GREC), through a wholly owned subsidiary, has purchased Howard, a 55.4 MW operating wind project from the BlackRock Global Renewable Power Fund II. The Howard project marks Greenbacker’s first wind asset in New York. The wind farm achieved commercial operation in 2011.
“It’s a joy to deliver clean energy close to home,” says Charles Wheeler, CEO of GREC, which is based in New York. “We’re very pleased that our successful ongoing collaboration with BlackRock has allowed us to enter a new wind market with Howard – which is not only our first wind asset in New York, but also the second largest project in our entire wind fleet.”
Howard comes with an existing renewable energy credit contract with an investment-grade offtaker. The project also contributes to New York’s clean energy targets. Current state legislation mandates that 70% of power generation come from renewable energy by 2030 and calls for a zero-emissions electricity sector by 2040.