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Greenbacker Renewable buys 60-MW solar project in Nevada

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Greenbacker Renewable buys 60-MW solar project in Nevada

Greenbacker Renewable Energy Co. LLC has completed the acquisition of the under-development 60.65-MW Turquoise Solar project from Sumitomo Corp. of Americas.

Construction on the project, located in Washoe County, Nev., is expected to start early in 2019 and be completed in the fourth quarter.

The Sumitomo Corp. subsidiary is also in the process of selling another 10-MW under-construction solar unit to a subsidiary of Algonquin Power & Utilities Corp. The Federal Energy Regulatory Commission signed off on that sale in December 2018.

Both facilities will sell their output to Berkshire Hathaway Inc. unit Sierra Pacific Power Co. under long-term power purchase agreements.