Greenbacker Renewable Energy Company has, through a wholly-owned subsidiary, it purchased a 50-MW operating wind farm from RPMA Iowa Wind Development. The project, Rippey Wind Holding, is located in Greene County, Iowa and has a 25-year PPA in place with the investment-grade utility Central Iowa Power Cooperative (CIPCO). The project reached commercial operations in 2012.
“We’re excited to expand our wind portfolio in Iowa with RPMA,” said Charles Wheeler, CEO of Greenbacker. “GREC has experienced phenomenal growth as we near the end of 2020 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 12.0MW of biomass facilities.
“We’re very pleased with the sale of our Rippey Wind Farm to Greenbacker,” said Felix Friedman, Managing Director of RPMA. “As renewable energy continues to become the predominant form of new electrical generation in the US, the sale of our wind operating assets will enable RPMA to further escalate its development efforts in new wind and solar energy projects in Iowa and neighboring states.”
News item from Greenbacker Renewable Energy Company