NEW YORK, Aug. 10, 2023 (GLOBE NEWSWIRE) — Greenbacker Capital Management (“GCM”), a leading renewable energy asset manager, announced today that, through an affiliated investment vehicle, it has completed a $148 million tax equity financing commitment with RBC Community Investments. The commitment—one of the very first tax equity deals to utilize the solar production tax credit (“PTC”)—is helping finance one of the largest solar projects in GCM’s fleet.
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.RBC Community Investments is a leading provider of tax equity investments involving Renewable Energy Tax Credits, Low Income Housing Tax Credits, Workforce/Impact Housing, Historic Tax Credits, and State Tax Credits. Our 130-person team is dedicated to the financing and development of renewable energy solutions and affordable housing throughout the US. As of June 2023, Community Investments has closed on over $16.3 billion in renewable energy and housing assets across 49 states, DC, Guam, and Puerto Rico.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.