Greenbacker Renewable Energy Company LLC Acquires Five Operating Solar Facilities, Comprising 27.8 Megawatts (“MW”) of Generating Capacity, in North Carolina

NEW YORK–(BUSINESS WIRE)–Greenbacker Renewable Energy Company LLC (“Company”) announced today
that on August 21, 2017, through a wholly-owned subsidiary, it signed a
purchase agreement to acquire 5 operating ground mounted solar PV
systems comprising 27.8 MW located throughout eastern North Carolina
(“Raleigh Portfolio”) for approximately $20,500,000. The Raleigh
Portfolio was being sold by FTI Capital Advisors, LLC, a capital markets
and banking advisor, on the behalf of the current owner Conergy
Projects, Inc. The projects were placed in service throughout 2015 and
sell power to Duke Energy through a 15-year Power Purchase Agreement
(“PPA”) with approximately 13 years currently remaining. The pricing on
the PPA is based on time of day production that equals approximately a
$0.066/kWh rate with no annual escalations over the contract period. All
of the systems qualify for renewable energy credits in North Carolina
which are contracted to be sold at $5.00 per MWh during the PPA term
while one of the projects also has a contract for $1.00 per MWh for
approximately 10 additional years.

“With this latest acquisition, we continue to build upon our portfolio
of Investment-Grade Utility Solar Assets,” said Charles Wheeler, CEO of
Greenbacker. “While we have recently diversified our portfolio to
include Wind and Residential Solar assets as well, we continue to
actively source and build upon a large pipeline of good solar assets in
many areas of the United States.” With the addition of the Raleigh
Portfolio, the Company now owns approximately 149.5 MW of generating
capacity comprising 45.5 MW of wind facilities and 104.0 MW of
commercial and residential solar facilities.

About Greenbacker Renewable Energy Company

Greenbacker Renewable Energy Company LLC is a publicly registered,
non-traded limited liability company that expects to acquire 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