BayWa r.e. – a global renewable energy developer, service supplier, wholesaler and energy solutions provider – has sold Wagner Wind LLC in California to Greenbacker Renewable Energy Co. LLC.
The 6 MW wind project, located in Palm Springs, was developed, constructed and operated in-house by BayWa. It comprises two Vestas V90 wind turbines at 3 MW each.
Placed in service in December 2012, the project is selling its energy and renewable certificates under a long-term, 20-year power purchase agreement (PPA) to the City of Riverside, Calif. As of the acquisition date, there are 15 years remaining on the PPA.
“The sale of our Wagner Wind project rounds up a successful year for our U.S. wind business and is the third project sold in 2017. We are preparing the next projects for construction and are looking forward to transact with buyers and sellers on exciting projects,” says Florian Zerhusen, CEO of BayWa r.e. Wind LLC.
“Adding a wind asset contiguous to our Golden Horizons solar farm in Palm Springs provides significant operational efficiencies in the ongoing management of both assets,” adds Charles Wheeler, CEO of Greenbacker. “As we strategically expand our portfolio of wind assets, we continue to focus on the broader strategy of acquiring premier commercial renewable energy assets with high-quality off-takers.”
With this acquisition, Greenbacker now owns 61.5 MW of wind power assets. It also recently acquired Georgia Mountain Community Wind LLC in Vermont.