GREENBACKER RENEWABLE ENERGY COMPANY LLC ANNOUNCES GROWTH IN 2019 FULL-YEAR FINANCIAL RESULTS
Leading Provider of Renewable Energy Investments Positioned for Continued Strong Performance in 2020Company Sees Surge of Interest in Assets Offering Durable Yield, Long-Term Growth Potential and Inverse Correlation to Other Asset ClassesNew York, May 20, 2020 (GLOBE NEWSWIRE) — Greenbacker Renewable Energy Company LLC (“Greenbacker”) – a leading manager of sustainable infrastructure investments for registered investment adviser (RIA) firms, independent broker-dealers (IBDs), family offices, and their clients – recently announced financial results for the full year ended December 31, 2019. Among other highlights, Greenbacker announced that gross power purchase agreement electricity sales revenue generated by projects that it manages rose from $30.1 million in 2018 to $47.9 million in 2019, a 59.3% increase. In addition, the total energy produced by its portfolio of renewable energy infrastructure projects rose by 79% in 2019.This strong increase in production was spurred by a record-setting year of investment for Greenbacker, during which it deployed $168.0 million of capital into 12 portfolio company investments, raising the total number of renewable energy projects in its portfolio to 160. For 2019, the fair value of Greenbacker’s investments in controlled and non-controlled projects rose 55%, to $475.2 million.Charles Wheeler, CEO of Greenbacker, noted that, “The demand for renewable power has grown in leaps and bounds in recent years. With the right in-house expertise and investment know-how, we are well positioned to take advantage of this growth. 2019 was a pivotal year for us. We built upon our expertise in identifying, developing and managing new investments and innovating new ways to produce attractive returns for our investors. As we enter a period of significant economic and market disruption, durable yield from assets that are non-correlated to other asset classes and yet well positioned to benefit from longer term market trends will become increasingly attractive to high net worth investors and the wealth managers who support them.”Performance HighlightsAbout Greenbacker Renewable Energy CompanyGreenbacker Renewable Energy Company LLC is a publicly reporting, non-traded limited liability company that acquires and manages income-generating renewable energy and energy efficiency projects, and other energy-related businesses. The projects in which we invest, such as solar and wind facilities, sell power under long-term contract to high credit worthy counterparties such as utilities, municipalities, and corporations. For more information, please visit www.greenbackercapital.com.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Factors that could cause actual results to differ materially from those described in the forward-looking statements can be found in the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2019 and in subsequently filed periodic reports that we file with the SEC. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. The Company undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in the Company’s expectations.Media ContactsJoseph Kuo / Chris Clemens
Haven Tower Group
424 317 4851 or 424 317 4854
mediarelations@greenbackercapital.com
