Greenwood Energy Expands Distributed Solar Business
Greenwood Energy, the North and Latin American clean energy division of the Libra Group, says it will expand its solar business by targeting construction-ready distributed generation projects across the United States. Debt financing will be provided by funds managed by affiliates of Fortress Investment Group.
Pursuant to the terms of the transaction, Fortress will provide financing for the construction and operation of new solar photovoltaic projects developed by Greenwood for commercial, industrial, utility and municipal customers. Once commissioned, Greenwood will operate the assets and sell electricity through long-term power purchase agreements, as well as solar renewable energy credits when possible.
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