Greenbacker Renewable Energy Company LLC Enters Into Tax Equity Commitment With Morgan Stanley Renewables Inc.

2/27/2020, 3:00 PM (Source: GlobeNewswire)

New York, NY, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Greenbacker Renewable Energy Company LLC (“Greenbacker”) announced today that it completed a tax equity financing commitment with Morgan Stanley Renewables Inc. (“Morgan Stanley”). The tax equity financing will be placed on a diversified portfolio of solar C&I and small-scale utility projects Greenbacker acquired in 2019, with an aggregate capacity of approximately 95 MW.  Pricing details for the agreement were not disclosed.

“The Morgan Stanley tax equity commitment provides a unique solution to our C&I and small-scale utility construction portfolio” stated Charles Wheeler, CEO of Greenbacker.  “This commitment marks the beginning of a long-term relationship with Morgan Stanley, and we look forward to growing this relationship in the future.”

"We are proud to partner with Greenbacker to continue investing in the development of clean, renewable energy sources for various cities, towns and communities across the U.S” stated Jorge Iragorri, Managing Director at Morgan Stanley.

About Greenbacker Renewable Energy Company

Greenbacker Renewable Energy Company LLC is a publicly registered, 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 contracts to high credit worthy counterparties such as Utilities, Municipalities, and Corporations. For more information, please visit www.greenbackercapital.com

About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, wealth management and investment management services.  With offices in 41 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals.  For more information about Morgan Stanley, please visit www.morganstanley.com. 

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:
Joseph Kuo/ Chris Clemens
Haven Tower Group
424.317.4851 | 424.317.4854
Mediarelations@greenbackercapital.com 

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