September 21 (Financial Eye) – US sustainable infrastructure investor Greenbacker Renewable Energy Company LLC (GREC) has bought its first wind energy asset in the state of Illinois, a 54-MW to-be-constructed wind farm that is expected to reach commercial operation in 2024.
The Panther Creek project, located in Pike County, was acquired from renewable energy project developer PowerWorks, a press release said on Tuesday. The financial details of the transaction remained undisclosed.
Panther Creek is in the final stages of design and development, with necessary permits, land leases and an interconnection agreement in place. Once up and running, the wind farm is expected to produce enough clean energy to offset over 130,000 metric tonnes of carbon emissions a year, according to the press release.
“Not only is Panther Creek our first wind asset delivering cheaper clean energy in the Illinois market, once complete it will also be our largest wind project in the entire Midwestern region,” said GREC’s chief executive Charles Wheeler.
GREC is a green energy investment manager and independent power producer with a portfolio of clean energy projects totalling nearly 2.9 GW of generating capacity. Last week, the company agreed a credit of USD 186.2 million (EUR 186.4m) to finance the construction of 160 MW of solar projects in Montana and South Dakota.
(USD 1 = EUR 1.001)