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Greenbacker Renewable Energy acquires 9.27-MW solar portfolio

Greenbacker Renewable Energy Co. LLC purchased the rights to a 9.27-MW solar portfolio in Oregon from a BNRG Renewables Ltd. subsidiary for an undisclosed amount.

The solar portfolio consists of three approximately 3-MW projects that are contracted with an investment-grade Oregon utility under 15-year power purchase agreements. The projects are expected to reach commercial operation between November and January 2020. The utility was not identified in the news release.

E.S.S. LLC, which does business as Evergreen Solar Services, has been hired as contractor under BNRG's supervision to bring the solar portfolio online, according to an Aug. 13 news release.

Greenbacker said it will own approximately 410 MW of generating capacity with the addition of the solar portfolio. The company aims to complete 250 MW of projects in the U.S. by 2021.

BNRG was advised by the principals of Javelin Capital.