Two wind farms in Vermont and California have had technical reviews from Natural Power as part of an acquisition by Greenbacker.
Natural Power provided technical due diligence reviews on behalf of Greenbacker Renewable Energy on two recent wind plant acquisitions, Georgia Mountain Wind Farm in Vermont and Wagner Wind in California.
The independent evaluations included turbine technology reviews, turbine, blade and BOP inspections as well as of key contracts including PPAs and turbine service agreements, as well as technical assessments of operational performance at both plants. Natural Power’s experts also estimated O&M costs for the course of the respective project life spans.
Charles Wheeler, CEO and CIO at Greenbacker, said: “We trust Natural Power to deliver reliable information that we can count on to feed into our investment decisions. Its team of technical experts has shown itself to work both nimbly and efficiently when called upon.”
Holly Burnett, Vice President of Natural Power in North America, said: “The deal-making landscape in wind and solar continued to be active during 2017, and we expect 2018 to be no different. Natural Power remains committed to helping our clients assess potential acquisitions in the most accurate and considered manner while understanding the tight timelines that frequently exist as part of the assessment and decision-making process.”
Wagner Wind is a 6 MW wind farm located in Palm Springs, CA, that sells power to the City of Riverside, CA. Wagner Wind has a 20-year power purchase agreement, with approximately 15 years remaining.
Georgia Mountain Community Wind located in Chittenden and Franklin Counties, Vermont, was the first commercial-scale wind project in these counties. This four-turbine, 10 MW project, which was originally developed by two local Vermont business owners, sells all of the power, as well as the renewable energy credits, to the nearby Burlington Electric Department through a 25-year fixed-price power purchase agreement. The facility originally commenced operations on 31st December and has been operated continuously since that date.