Greenbacker Renewable Energy Co. LLC (GREC) has purchased a 50 MW operating wind farm from RPMA Iowa Wind Development LLC (RPMA).
The project, Rippey Wind Holding LLC, is located in Greene County, Iowa, and has a 25-year power purchase agreement (PPA) in place with the Central Iowa Power Cooperative (CIPCO). The project reached commercial operations in 2012.
“We’re excited to expand our wind portfolio in Iowa with RPMA,” says Charles Wheeler, CEO of Greenbacker. “GREC has experienced phenomenal growth as we near the end of the year and Rippey is one of our largest wind projects, typifying this acceleration of acquisitions.”
With the acquisition of Rippey Wind Holding I, Greenbacker will own approximately 760.7 MW of generating capacity (including assets that are to be constructed), comprising 537 MW of utility-scale and distributed solar facilities, 192.6 MW of wind facilities, 19.1 MW of battery storage and 12 MW of biomass facilities.
Since 2000, RPMA has developed over 1.4 GW of utility-grade wind energy projects in Iowa and Kansas. The company is headquartered in De Soto, Iowa, and continues to develop energy projects for its customers with a focus on long-term, community-friendly and environmentally sound operations.
