Greenbacker Secures Tax Equity for Massachusetts Wind Project

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Hartz Capital, a privately owned real estate company, says it recently invested tax equity into Greenbacker Renewable Energy‘s Holiday Hill Community Wind project located in Russell, Mass.

The 5 MW asset, which is outfitted with two Goldwind 2.5 MW turbines, will provide power to a handful of local municipalities over the course of long-term PPAs. Karbone Capital Markets was retained by Hartz Capital to serve as the lead originator and exclusive financial advisor for a mandate involving a 2019 ITC investment into a qualified renewable project.

“Greenbacker has been a good partner for us on this project. We look forward to deploying more capital and building more renewable systems in the future,” says Tim Terry, general counsel at Hartz Capital.

Hartz Capital is the investment arm of The Hartz Group Inc., a privately owned real estate conglomerate headquartered in Secaucus, N.J. Hartz is one of the largest solar operators in the state, with more than 40 MW of owned and operating systems, most of which are behind-the-meter rooftop systems installed on Hartz-owned warehouses and other industrial buildings located throughout the state.

“It has been a pleasure working with Hartz to procure the tax equity investment for this project. We look forward to furthering our partnership in the future,” adds Charles Wheeler, CEO of Greenbacker.

Photo: Karbone’s banner image

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