Greenbacker Acquires 6.5-Mwdc Pre-Operational Solar Project In Vermont
Jan 27, 2022•almost 4 years ago
Acquiring Company
Greenbacker Renewable Energy Company
Acquired Company
6.5-MWdc
Description
Greenbacker Renewable Energy Company LLC (“GREC” or “Greenbacker”), a leading owner and operator of sustainable infrastructure and energy efficiency projects, announced today that, through a wholly owned subsidiary, it has purchased a 6.5-MWdc to-be-constructed solar project from Encore Renewable Energy (“Encore”), a preeminent integrated clean energy developer in the region. The South Street solar project, located in Middlebury, is now GREC’s largest solar asset in Vermont. Once completed, 100% of the clean energy South Street produces will be allocated to Middlebury College.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed