NEW YORK, NY, August 13, 2025 — Greenbacker, an energy transition-focused investment manager and independent power producer, today announced the sale of a 51.2 MW portfolio of 64 operating solar assets to CleanCapital, a leading independent power producer specializing in distributed clean energy. This transaction reflects Greenbacker’s broader strategy to optimize its project fleet for long-term growth with selective sales of non-core assets and a sharpened focus on larger-scale clean energy projects. The sale also supports greater operational efficiency, allowing the firm to reallocate resources toward the construction of higher-impact projects across its pre-operating portfolio.
“As Greenbacker continues to scale, we are optimizing our portfolio to focus on higher-capacity clean energy projects that deliver greater impact and efficiencies across our fleet,” said Dan de Boer, Interim CEO of Greenbacker. “This sale reflects our approach to portfolio management and our commitment to accelerating the energy transition through investments that strengthen the U.S. energy system. We’re pleased to partner on this transaction with CleanCapital—an experienced partner that shares our focus on delivering reliable, clean power to communities across the country.”
“As energy demand across the country surges, distributed generation (DG) solar continues to be a critical resource providing affordable, resilient, and emissions-free energy to local businesses and communities,” said Jon Powers, President of CleanCapital. “The acquisition of these assets from a trusted counterparty like Greenbacker reflects CleanCapital’s commitment to and specialization in DG-scale solar and energy storage projects, and we look forward to continuing to grow our portfolio through both operating and development-stage asset acquisitions.”
The sale follows Greenbacker’s recent milestone financing of nearly $1 billion to support the construction of its largest project to date—the 674 MWdc utility-scale solar farm in New York. When complete in 2026, Cider is expected to be the largest solar energy project in the state of New York, generating over one million MWh of power in its first year of operation.
To date, Greenbacker’s business operations have driven more than $170 million in spend with U.S.-based manufacturers and suppliers in that period, directly supporting American industry and strengthening domestic supply chains, while advancing homegrown energy deployment. Greenbacker’s fleet of operating and pre-operating projects currently support, or are expected to support, thousands of green energy jobs.
Greenbacker’s current portfolio of clean energy projects represents approximately 2.9gigawatts (“GW”)[i]of clean energy generation and storage capacity[ii] across 30 states, territories, provinces, and Washington, D.C. As of June 30, 2025, Greenbacker’s assets had cumulatively produced more than 13 million MWh of power,[iii] abating over 8 million metric tons of carbon[iv] and conserving more than 9 billion gallons of water.[v]
To date, Greenbacker’s business operations have driven more than $170 million in spend with U.S.-based manufacturers and suppliers in that period, directly supporting American industry and strengthening domestic supply chains, while advancing homegrown energy deployment. Greenbacker’s fleet of operating and pre-operating projects currently support, or are expected to support, thousands of green energy jobs.[vi]
[i] Data as of June 30, 2025. The financial and portfolio metrics set forth herein are unaudited and subject to change. Total assets and megawatts statistics include those projects where we have contracted for the acquisition of the project pursuant to a Membership Interest Purchase Agreement (“MIPA”).
[ii] Includes both operating and pre-operating projects.
[iii] Since January 2016.
[iv] Data as of June 30, 2025. When compared with a similar amount of power generation from fossil fuels. Carbon abatement is calculated using the EPA Greenhouse Gas Equivalencies Calculator which uses the Avoided Emissions and generation Tool (AVERT) US national weighted average CO2 marginal emission rate to convert reductions of kilowatt-hours into avoided units of carbon dioxide emissions.
[v] Data as of June 30, 2025. Water saved by Greenbacker’s clean energy projects is compared to the amount of water needed to produce the same amount of power by burning coal. Gallons of water saved are calculated based on Operational water consumption and withdrawal factors for electricity generating technologies: a review of existing literature – IOPscience, J Macknick et al 2012 Environ. Res. Lett. 7 045802.
[vi] Data as of June 30, 2025, and includes both operating and pre-operating projects. Green jobs are calculated using The National Renewable Energy Laboratory (NREL) State Clean Energy Employment Projection Support, nrel.gov.