CleanCapital Expands National Footprint with Acquisition of 64-Site Solar and Energy Storage Portfolio from Greenbacker
CleanCapital, a leading independent power producer (IPP) dedicated to accelerating the transition to clean, distributed energy in the United States, has announced the acquisition of a 64-project solar and energy storage portfolio totaling 51.2 megawatts (MW) of operating capacity. The portfolio, acquired from Greenbacker, an investment manager and power producer focused on sustainable infrastructure and the energy transition, represents one of the most significant transactions in CleanCapital’s decade-long history.
This strategic acquisition dramatically expands CleanCapital’s clean energy asset base and brings its total number of operating and under-construction solar and storage assets to more than 350. The newly acquired portfolio spans 13 U.S. states and includes a diverse array of distributed generation projects ranging from rooftop solar arrays to ground-mounted systems. The sites are designed to serve a broad spectrum of energy consumers, including municipal governments, universities, K-12 schools, hospitals—collectively referred to as the MUSH market—and various commercial entities.
A Major Milestone for CleanCapital
The 64-project acquisition represents a transformative moment for CleanCapital as it continues to scale its presence across the U.S. distributed energy sector. The company, known for its innovative investment platform and efficient execution of complex transactions, has consistently prioritized assets that provide both economic and environmental value. This new portfolio aligns squarely with that mission.
“Continued investment in operating assets is critical to satisfying ever-increasing energy demand across the U.S.,” said Julia Bell, Chief Investment Officer at CleanCapital. “This portfolio is a textbook example of both the value of distributed generation assets and the opportunities that accompany portfolios like this one. No other platform can match CleanCapital’s expertise in valuing, conducting due diligence, and managing diverse assets like these at scale.”
This acquisition not only expands CleanCapital’s national footprint but also strengthens its capacity to contribute to grid resilience, energy security, and cost-effective power delivery to end users. The company’s focus on distributed generation reflects a broader trend within the U.S. energy market—decentralizing power generation to enhance flexibility, reduce transmission losses, and bring clean electricity closer to the point of use.
A Portfolio with Impact
The acquired assets are located in 13 states across various regions of the United States, reflecting the growing demand for localized, clean energy solutions nationwide. The portfolio’s size and geographic dispersion will further help CleanCapital reduce risks related to weather, policy, and market volatility. More importantly, these systems serve critical community infrastructure—including schools, universities, and hospitals—helping to ensure that essential services benefit from resilient, emissions-free power sources.
Beyond decarbonizing the power supply, the projects support local economic development through job creation, tax revenues, and long-term cost savings for energy users. As U.S. municipalities and institutions seek to decarbonize their operations and meet aggressive sustainability targets, access to proven, operating distributed energy resources such as these becomes increasingly vital.
Each system in the portfolio is already operational, meaning that CleanCapital is acquiring cash-flowing assets with established performance histories and known offtakers. This greatly reduces development and performance risk while ensuring a near-term return on investment and steady revenues over the life of the assets.
Greenbacker’s Strategic Evolution
For Greenbacker, the transaction represents a realignment of its strategic priorities as it turns its attention toward developing and operating utility-scale clean power projects. As a well-established investment firm focused on clean infrastructure, Greenbacker has played a critical role in financing and scaling distributed renewable energy over the past decade.
“We are pleased to collaborate with CleanCapital on a deal that delivers high-quality, high-impact assets while supporting our strategic focus on building larger-scale clean power projects that accelerate the transition to a more resilient and sustainable U.S. energy system,” said Dan De Boer, Interim CEO of Greenbacker.
The deal illustrates the growing interdependence between different segments of the renewable energy investment ecosystem, with CleanCapital strengthening its hold on the distributed generation market while Greenbacker advances toward utility-scale development.
A Reputation for Execution
CleanCapital’s successful completion of this sizable acquisition further cements its reputation for efficient and reliable transaction execution in the renewable energy industry. Since its founding in 2015, the company has closed numerous complex transactions involving portfolios of distributed assets across multiple markets, often with various counterparties and system configurations.
“For nearly a decade now, CleanCapital has built its reputation for efficiency and certainty to transact with portfolio acquisitions like this one,” said Alyssa Rinaldi, Senior Director of Business Development at CleanCapital. “We look forward to continuing to grow our portfolio with quality projects from respected partners like Greenbacker.”
The company’s approach combines deep technical knowledge, advanced data analytics, and a commitment to long-term asset management. CleanCapital employs in-house expertise in investment analysis, legal structuring, and operations—enabling it to streamline due diligence and close deals at a pace that few others in the space can match.
A Broader Commitment to the Energy Transition
With this acquisition, CleanCapital strengthens its role as a national leader in distributed renewable energy. According to data from Wood Mackenzie, CleanCapital now operates one of the largest commercial solar portfolios in the U.S., putting it in an elite group of independent power producers spearheading America’s clean energy transformation.
The company’s rapid expansion also supports broader federal and state policy goals aimed at reducing greenhouse gas emissions, enhancing grid reliability, and promoting energy independence. Distributed generation—especially when combined with energy storage—is seen as a key pillar of a decarbonized, modernized grid.
In addition to acquiring and managing solar assets, CleanCapital has increasingly expanded its presence in energy storage, positioning itself to take advantage of emerging opportunities in battery technology, grid balancing services, and capacity markets.
