Greenbacker Renewable Energy Company LLC Acquires a To Be Constructed 26.0 Megawatt Solar Project in California from Solar Frontier Americas Development LLC

NEW YORK–(BUSINESS WIRE)–Greenbacker Renewable Energy Company LLC (the “Company”) announced today
that on December 27, 2017, through a wholly-owned subsidiary, it
purchased 97WI 8ME, LLC (“Midway III”), a “to be constructed” 26
megawatt solar project located in Imperial County, California, from
Solar Frontier Americas Holdings LLC (“Solar Frontier”). Midway III is
estimated to start construction in January 2018 and achieve Commercial
Operations Date (“COD”) in October 2018. As part of this
pre-construction transaction, the project has a construction management
contract and a module supply agreement in-place with Solar Frontier. The
Company is currently in negotiations with a financial institution to
provide a construction loan and term loan facility as well as a tax
equity financing arrangement with a large U.S. based financial
institution. After considering the tax equity investment and expected
term loan, the net investment by the Company is expected to be
approximately $9.0 million. Once operational, Midway III will sell all
the power generated to a large California utility through a 20-year
fixed-price power purchase agreement.

“Working with Solar Frontier to construct a large scale solar project in
California, as well as two large financial institutions to finance the
transaction, is a great investment opportunity for Greenbacker”, stated
Charles Wheeler, CEO of Greenbacker. “Upon completion in the third
quarter of 2018, we see Midway III as another quality asset producing
stable and predictable cash flows to the benefit of our investors”.

About Greenbacker Renewable Energy Company

Greenbacker Renewable Energy Company is a publicly registered,
non-traded limited liability company that owns and operates a
diversified portfolio of income-producing renewable energy power plants,
energy efficiency projects and other sustainable investments.

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 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.

Contacts

David Sher
Director, Greenbacker Renewable Energy Company LLC
917-309-1234