Greenbacker Purchases 5 MW Wind Project from Cornerstone

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Greenbacker Renewable Energy Company LLC, a company that acquires and manages income-generating renewable energy, says, through a wholly-owned subsidiary, it has purchased the rights to the 5 MW Holiday Hill wind project from Cornerstone Renewables LLC.

Located in Russell, Mass., Holiday Hill is contracted to sell electricity through 25-year offtake agreements with three local utilities. The project reached commercial operations in the last quarter of 2019.

“The Holiday Hill project is an excellent addition to Greenbacker’s wind portfolio, providing long-term, investment-grade cash flows and furthering the expansion of our operating wind portfolio,” says Charles Wheeler, CEO of Greenbacker.

“It has been a pleasure working with Cornerstone Renewables to bring this project to fruition,” he adds.

With the addition of Holiday Hill, Greenbacker will own approximately 555.1 MW of generating capacity (including assets that are to be constructed), comprising 177.2 MW of wind facilities, 365.9 MW of utility-scale and distributed solar facilities and 12.0 MW of biomass facilities.

Cornerstone Renewables LLC is a renewable energy development company from Vermont. The company has 38 years of experience in the wind industry and has installed over 2,600 solar trackers across the state, notes the company.

Photo: A Cornerstone-built wind project

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