How Greenbacker Raked in a Whopping $181 Million in Revenue in 2023


Unlocking Growth: Greenbacker’s Renewable Energy Triumph in 2023

Greenbacker Capital Management’s renewable energy arm saw an electrifying surge in 2023, boasting a staggering $181 million in operating revenue. What fueled this remarkable achievement? A whopping 38% uptick in solar power generation, setting a new standard for sustainable energy production.

But that’s just the beginning. With the addition of new solar assets, Greenbacker’s clean energy output soared to an impressive 2.5 million megawatt-hours, marking a 7% increase from the previous year. And it doesn’t stop there – the company ramped up its operational capacity by a remarkable 24%, unveiling two of its largest solar farms yet: the monumental MTSun solar farm in Montana and the groundbreaking Fall River solar farm in South Dakota.

However, every success story encounters hurdles, and Greenbacker’s journey was no exception. Three wind assets temporarily went offline for revitalization with cutting-edge equipment. But fear not – these projects are now back online, primed to contribute a staggering $24.2 million to annual revenue in 2024.

Behind these remarkable achievements lies a strategic backbone: $134.6 million from long-term Power Purchase Agreements (PPAs) and a meticulously managed financial structure. Despite a loss of $11.5 million in funds from operations, Greenbacker’s Adjusted EBITDA demonstrates resilience and strategic foresight.

Yet, amidst the triumphs, challenges emerge. A net loss of approximately $79.5 million, driven by non-cash factors, underscores the complexities of the renewable energy landscape. Nonetheless, compared to previous periods, Greenbacker’s trajectory remains one of relentless progress and innovation.

In retrospect, from modest beginnings to meteoric growth, Greenbacker’s journey epitomizes the spirit of sustainability and resilience. As the world embraces renewable energy, Greenbacker stands at the forefront, a beacon of progress in the quest for a greener future. #RenewableEnergy #SolarPower #GreenbackerSuccess #SolarFarms #GreenEnergyExpansion #RenewableRevival #GreenbackerFuture







Credit: [Image: Greenbacker]

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