First Project Developed By rPlus Energies Reaches Commercial Operation

Graphite Solar becomes Greenbacker Renewable Energy Company's largest operating renewables project

The 104 MWdc / 80 MWac project delivers benefits for Carbon County, UT, powers Meta with clean energy

SALT LAKE CITY, July 28, 2022 /PRNewswire/ -- Graphite Solar, a project developed by rPlus Energies, has reached commercial operation. Located in Carbon County, UT, with a power capacity of 104 MWdc / 80 MWac, Graphite is now the first operating solar project rPlus Energies has developed and the largest operational asset in project owner Greenbacker's clean energy fleet.

rPlus Energies and Greenbacker Renewable Energy Company LLC ("GREC" or "Greenbacker"), a leading green energy investment company and independent power producer, joined project partners and local officials at a July 12 commissioning ceremony to celebrate the project's completion and the benefits it provides for the area. Graphite supports local green jobs and generates increased tax revenue for the community, while expanding the region's contributions to America's energy landscape.

"It's very special that Graphite Solar can play a role in helping Carbon County diversify its contributions to the local energy infrastructure," said Charles Wheeler, CEO of GREC. "A place with a long history of power production is now home to Greenbacker's largest operating clean energy project." (Previously, the company's 61 MWdc Turquoise Solar in Nevada held that title.)

The project has begun delivering solar energy to the Meta (formerly Facebook) data center in nearby Eagle Mountain, UT, helping the company power its operations exclusively with renewable energy.

"Bringing new renewable energy and investment to communities where we operate is a priority for Meta," said Urvi Parekh, Director, Renewable Energy at Meta. "We appreciate the partnership with rPlus and Greenbacker that is delivering this new solar energy to the Utah grid in support of our local operations."

Graphite has a long-term power purchase agreement with PacifiCorp on behalf of Meta. The contract was developed under Rocky Mountain Power's Schedule 34 green energy tariff, which helps sizable energy consumers source renewables to meet their clean energy targets.

"Rocky Mountain Power is committed to helping our customers, and the communities we serve, meet their renewable energy goals," said Merlin Rushton, regional business manager in Price, Utah. "Projects like this are a demonstration of our company's commitment to expand energy choices for our customers and manage the transition to a 21st Century electricity network."

Greenbacker, rPlus, and Sundt Renewables (the project's engineering, procurement, and construction contractor) have also invested in the community and its workforce with a scholarship program. The Local First Scholarship - Graphite Solar program provides $75,000 to students who reside in Carbon County and who plan to pursue their career goals locally after completing their certificate or degree.

"A lot of work, dedication, and collaboration has been made to get to this point," said Luigi Resta, rPlus Energies President & CEO. "We are immensely proud that we can contribute to the continuation of the energy legacy that is Carbon County."

Greenbacker acquired Graphite Solar from rPlus in December 2020, contracting with the developer to manage the project through construction. Construction involved installing 1.5 miles of transmission lines and 257,700 solar modules and supported 273,800 hours of construction labor.

Greenbacker Renewable Energy Company LLC is a publicly reporting, non-traded limited liability sustainable infrastructure company that acquires and manages income-producing renewable energy and other energy-related businesses, including solar and wind farms. We seek to invest in high-quality projects that sell clean power under long-term contract to high-creditworthy counterparties such as utilities, municipalities, and corporations. We are long-term owner-operators, who strive to be good stewards of the land and responsible members of the communities in which we operate. We believe our focus on power production and income generation creates value that we can then pass on to our shareholders—while facilitating the transition toward a clean energy future. For more information, please visit www.greenbackercapital.com.

rPlus Energies develops modern power plants to contribute to the rebuilding of America's energy infrastructure. Through partnership with the private sector, municipalities, and utilities, rPlus Energies develops utility-scale power plants to access a region's best mix of renewable resources to enable a more dispatchable and reliable power supply. rPlus Energies has over 30 projects across 15 market areas in the U.S. in active development including solar, wind, pumped storage hydro, and solar plus battery. rPlus Energies is a subsidiary of The Gardner Company, family owned and operated since 1976, which is dedicated to building better communities through thoughtful, sustainable practices in developing and managing real estate, renewable energy and technology, and providing results-oriented philanthropy. Learn more at www.rplusenergies.com.

PacifiCorp is one of the lowest-cost electrical providers in the United States, serving 2 million customers. The company operates as Rocky Mountain Power in Idaho, Utah, and Wyoming and as Pacific Power in California, Oregon, and Washington. PacifiCorp provides safe and reliable service through a vast, integrated system of generation and transmission that connects communities as the largest regulated utility owner of wind power in the West. For more information, visit www.pacificorp.com. 

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in its expectations.

SOURCE Rplus Energies