NEW YORK, April 22, 2024 (GLOBE NEWSWIRE) — The Greenbacker Development Opportunities Funds (collectively, “GDEV”), investment vehicles affiliated with Greenbacker Capital Management (“Greenbacker”) that make growth capital investments in sustainable infrastructure and renewable energy platforms, have released their 2023 Impact Report. As part of the firm’s commitment to addressing climate change, GDEV conducts due diligence, monitoring, and reporting internally and across its portfolio to inform its annual Impact Report.
Notable takeaways from the 2023 Impact Report include:
- GDEV has invested in 16 sustainable infrastructure platforms in the renewable power generation, grid, storage, mobility, and other climate innovation sectors.
- GDEV’s portfolio companies have amassed a combined pipeline of $27 billion in capital expenditures, including more than 16 GW in power generation and 23 GWh of storage capacity.
- The portfolio has a combined 2,740 low-carbon projects in the pipeline, including active projects across 45 U.S. states and three Canadian provinces.
“GDEV is focused on enabling the development of renewable power generation and the transition to a carbon-free electrical grid,” said Benjamin Baker, Managing Director of GDEV. “We’re proud to showcase our steadfast commitment to clear and actionable policies within Greenbacker and across our portfolio companies to work towards a brighter, greener future.”
The Impact Report spotlights three GDEV portfolio companies – Lightshift Energy, Sunrock Distributed Generation and Peak Power – highlighting how GDEV’s low-carbon infrastructure investments support the clean energy transition:
- Lightshift Energy is a utility-scale battery solar storage company that abates over 38,000 metric tons of CO2 per year by efficiently charging and dispatching stored electricity during hours when it is needed the most.
- Sunrock Distributed Generation is a solar development platform that improves access to solar and storage solutions for small and medium-sized businesses through its power purchase agreement product. Sunrock’s pipeline exceeds 370 MW.
- Peak Power, a cleantech company that offers a full-end-to-end solution to commercial and industrial customers to reduce energy costs, has 69 MWh of battery capacity under management and has saved customers over $5M in energy costs.
“We believe that a successful energy transition demands long-term, large-scale investment in infrastructure backed by technical insight and operational expertise,” said Trixie Blair, Principal at GDEV. “Since our initial investments, we have supported the creation of more than 300 new jobs in the clean energy sector across our portfolio companies with more to come as we continue to invest in sustainable infrastructure across North America.”
About Greenbacker Capital Management
Greenbacker Capital Management LLC is an SEC-registered investment adviser that provides advisory and oversight services related to project development, acquisition, and operations in the renewable energy, energy efficiency, and sustainability industries. For more information, please visit https://greenbackercapital.com.
About Greenbacker Development Opportunities
Greenbacker Development Opportunities is a middle-market private equity strategy that invests in growing sustainable infrastructure platforms serving high-value markets across the US. The strategy is managed by Greenbacker Capital Management, LLC. For more information, please visit https://greenbackercapital.com/greenbacker-development-opportunities.
Forward-Looking Statements
This 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. Although Greenbacker 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. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in its expectations. Additionally, past performance is not a guarantee or indicator of future results.
Media Contacts
Mission Control for Greenbacker Development Opportunities (GDEV)
[email protected]
Chris Larson for Greenbacker Capital Management
[email protected]
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