Greenbacker acquires 6.5-MW Vt. solar project from Encore Renewable Energy

Greenbacker Renewable Energy Company LLC, through a subsidiary, has purchased a planned 6.5-MWdc solar project in Middlebury, Vt., from Encore Renewable Energy for an undisclosed amount.

The South Street solar project broke ground in October 2021. Upon completion, 100% of the electricity it produces will be allocated to Middlebury College, Greenbacker said in a Jan. 27 news release. The project is expected to provide 30% of Middlebury College's total energy needs and will also help Vermont toward a goal of obtaining 90% of its power from renewables by 2050.

The South Street project's utility off-taker, Green Mountain Power Corp., plans to add onsite energy storage.

Greenbacker acquired the project in the preconstruction stage and commercial operations are expected by the second half of 2022, according to the release. Middlebury College achieved carbon neutrality in 2016 and aims to run on 100% renewable power by 2028.