Greenbacker Renewable Energy Co. LLC (GREC), a green energy investment manager and independent power producer, has purchased, through a wholly owned subsidiary, a 54 MW to-be-constructed wind farm from PowerWorks, a national renewable energy project developer, owner and operator.
The wind farm, Panther Creek, is Greenbacker’s first wind energy asset in Illinois.
With the transaction, Greenbacker continues to scale its wind energy portfolio in the Midwest, where it currently has over 190 MW of operating wind assets. The project will be located in Pike County, Ill.
“We’re thrilled that our partnership with PowerWorks has enabled Greenbacker’s wind fleet to expand into new territory in a big way,” says Charles Wheeler, CEO of GREC. “Not only is Panther Creek our first wind asset delivering cheaper clean energy in the Illinois market, once complete it will also be our largest wind project in the entire Midwestern region.”
Panther Creek is in the final stages of design and development, with necessary permits, land leases and an interconnection agreement in place. It is slated to reach commercial operation in 2024.
“We are very pleased to announce our partnership with Greenbacker and this exciting advancement for the Panther Creek Wind Project,” states Morgan McGovert, senior vice president of PowerWorks. “Panther Creek is a wonderful asset for the community, bringing clean and reliable energy, new jobs, and economic opportunities for many years to come.”