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Greenbacker acquires solar assets of the DEN from Oak Leaf Energy

Greenbacker Renewable

Greenbacker Renewable Energy (GREC), a leading company of sustainable energy developments, announced this Monday it acquired a solar portfolio located in the Denver International Airport. The company acquired the assets through a wholly-owned subsidiary from Oak Leaf Energy Partners.

The portfolio includes two pre-operational solar installations called DIA 7 and DIA 8. The projects have a 12.4 MWdc and 6.0 MWdc capacity, respectively. After the acquisition, Greenbacker will own two more solar developments, adding scale to the company’s national solar operations.

Moreover, Greenbacker had an interest in the assets, as they are co-located with a number of existing projects in Greenbacker’s renewable energy fleet. Acquiring them will represent less cost than new assets built on separate sites. In addition, the transaction will increase the company’s presence in Colorado, a strong state for solar energy.

Furthermore, both DIA 7 and DIA 8 have long-term power purchase agreements in place with an investment-grade offtaker; the airport itself. Adding the capacities from the two projects also owned by Greenbacker (two solar energy gardens), the Airport will increase its sustainability.

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Greenbacker pushing DEN’s sustainability

At the same time, the acquisition the sustainable infrastructure of Greenbacker will grow to approximately 2.18 GW of generating capacity; 1.82 GW of utility-scale and distributed solar facilities; 330.8 MW of wind facilities, also 16.0 MW of battery storage; and also 12.0 MW of biomass facilities.

On the other hand, Charles Wheeler, CEO of GREC, said. “We consider it a privilege to be part of a clean energy future for Denver International Airport. Our ongoing partnership with Oak Leaf Energy Partners continues to expand access to renewable energy across Colorado, and their extensive solar development experience was a distinct benefit to these projects.”

In addition, John Hereford, CEO of Oak Leaf, commented. “These relationships have allowed us to collectively pursue important solar projects that directly address Mayor Hancock’s sustainability objectives for the airport and the City of Denver.”

Finally, Denver International Airport CEO, Phil Washington, said. “These additional solar projects will help us improve the sustainability of our energy supply while helping us reach our goal of becoming one of the greenest airports in the world.”

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