M&A Deal Summary

Spruce Power Acquires Greenbacker Renewable Energy - 27.6 MW Residential Solar Assets

On March 5, 2020, Spruce Power acquired renewable energy company Greenbacker Renewable Energy - 27.6 MW Residential Solar Assets from Greenbacker Renewable Energy

Acquisition Highlights
  • This is Spruce Power’s 1st transaction in the Renewable Energy sector.
  • This is Spruce Power’s 1st transaction in the United States.
  • This is Spruce Power’s 1st transaction in New York.

M&A Deal Summary

Date 2020-03-05
Target Greenbacker Renewable Energy - 27.6 MW Residential Solar Assets
Sector Renewable Energy
Buyer(s) Spruce Power
Sellers(s) Greenbacker Renewable Energy
Deal Type Divestiture

Target

Greenbacker Renewable Energy - 27.6 MW Residential Solar Assets

New York, New York, United States
Greenbacker Renewable Energy Co. LLC - Residential Solar Assets comprises 3,668 rooftop solar assets totaling 27.6 megawatts (MW).

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Buyer(S) 1

Buyer

Spruce Power

Houston, Texas, United States

website


Category Company
Sector Renewable Energy
DESCRIPTION

Spruce Power owns and operates more than 52,000 residential rooftop solar systems. The company sells the power generated by its systems to homeowners pursuant to long-term agreements that obligate the company’s subscribers to make recurring monthly payments. Spruce Power is headquartered in Houston, Texas.


DEAL STATS #
Overall 1 of 2
Sector (Renewable Energy) 1 of 2
Type (Divestiture) 1 of 2
State (New York) 1 of 1
Country (United States) 1 of 2
Year (2020) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-14 Clearway Energy - Portfolio of Residential Solar Assets

Princeton, New Jersey, United States

Clearway Energy's Portfolio of Residential Solar Assets provides 53 megawatts (MW) of rooftop solar.

Buy -

Seller(S) 1

SELLER

Greenbacker Renewable Energy

New York, New York, United States

website


Category Company
Founded 2012
Sector Renewable Energy
DESCRIPTION

Greenbacker Renewable Energy Co. LLC engages in acquiring and financing the construction and/or operation of income-generating renewable energy, energy efficiency, and sustainable development projects primarily in North America. Its investments in alternative energy generation portfolios cover solar and wind energy projects. The company was founded in 2012 and is based in New York, New York.


DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-01 Eagle Valley Clean Energy

Gypsum, Colorado, United States

Eagle Valley Clean Energy facility is a Gypsum, Colorado-based power plant which generates electricity from the combustion of waste wood. The plant sells 100% of its generated energy under a long- term contract with Holy Cross Energy, a not-for-profit Rural Electric Cooperative providing electricity to over 55,000 members.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-05 Broad Reach Power - 80 MWac pre-operational solar project

Houston, Texas, United States

Broad Reach Power's 80 MWac pre-operational solar project is a renewable energy project to exceed one gigawatt of power generation capacity. Broad Reach Power's 80 MWac pre-operational solar project is based in Houston, Texas.

Buy -