“Maximizing energy efficiency dovetails perfectly with our core mission of driving returns for shareholders by investing in renewable energy infrastructure, since it allows us to not only reduce carbon emissions through sustainable energy technologies, but enables off-takers to manage their energy costs by reducing their need to draw electricity from the grid during periods of peak demand when prices are typically higher.
“Expanding into energy storage is a logical next step in our acquisition strategy,” said Charles Wheeler, CEO of Greenbacker. The acquisition marks Greenbacker’s initial strategic expansion into the energy optimization sector, enhancing the services it provides to power off-takers and consumers in California and positioning the firm to increase value for its shareholders. (“Stem”), the global leader in artificial intelligence (AI)-driven energy storage services. New York, NY, J(GLOBE NEWSWIRE) - Greenbacker Renewable Energy Company LLC (“Greenbacker”) announced today that on June 9, 2020, through a wholly-owned subsidiary, it purchased the rights to Pacifica Storage LLC, a 7.9MW / 16.5MWh portfolio of sixteen operating and to-be-constructed behind-the-meter energy storage systems from Stem, Inc. Strategic Expansion into Power Optimization Sector Positions Firm to Increase Value for Investors through Enhanced Services for Off-Takers and Consumers in California
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