History of Greenwood Energy
Greenwood Energy has a strong track record through investing in alternative energy technologies and developing clean energy assets. Formed in 2010 in connection with the acquisition of Greenwood Fuels (a recycled fuel pellet manufacturer in Green Bay, Wisconsin), Greenwood Energy is the US-focused clean energy investment vehicle of the Libra Group. After achieving substantial growth, we separated the business into three distinct entities: Convergen Energy (centered on cleaner alternatives to traditional fossil fuel generation), Greenwood Energy Latam (focused on solar PV projects in Central America), and Greenwood Energy which continues to concentrate on solar PV projects in the US. Greenwood Energy typically partners with local solar developers and has solar projects in Delaware, Florida, Massachusetts, New York, North Carolina, Vermont, and Hawaii.
We are part of the Libra Group, a privately owned international business group which controls over 30 subsidiaries operating across six continents. Libra also has substantial renewable energy interests in Europe through its subsidiary EuroEnergy, which is a prime operator in the European renewable market for clean energy from wind, solar, and biomass sources. Greenwood has a strategic relationship with EuroEnergy which undertook the Libra Group’s first solar investment in 2005. Libra’s core sectors are aviation, hospitality, real estate, shipping, diversified investments, and energy.
Operating in clean energy industry since 2010
Financed and constructed four portfolios of solar PV projects totaling 83 MW
Strategic relationships with major capital providers
Full scope of capabilities from early stage development to own and operate
Capabilities that get projects built.
Who We Are
The Greenwood Energy team has combined experience of over 55 years in solar and over 65 years in renewable energy. We have the technical, legal and financial expertise to take solar projects from development to operation and beyond. We target projects between 1 MW and 15 MW located throughout the United States, and have the capability and experience to tackle larger projects. Typically, projects with similar risk profiles and timelines are aggregated into portfolios comprising six to ten projects totaling 10 MW to 30 MW. Using a portfolio strategy provides critical mass so that we can leverage our strategic relationships with top-tier third party tax equity and debt providers. Once in operation, we work hard to deliver maximum value from our assets.
The renewables sector has come of age, particularly solar power. The union of capital and technology are making a difference to the global economy by lowering the cost of energy.
Featured Projects
-
Elizabeth Mine
Elizabeth Mine Solar is a 7,000 kW DC solar project in Strafford, Vermont. The fixed tilt system is located on a former EPA Superfund site using ballasted foundations. It sells energy under a long-term power purchase agreement with Green Mountain Power. The project reached commercial operation in December 2017.
Strafford, VT
7,000 kW DC
December 2017
-
Stanton Landfill
Stanton Landfill Solar is a 6,820 kW DC landfill solar project located on the property of the Orlando Utilities Commission’s (OUC) Stanton Power Station in Orlando, Florida. The Stanton Station is an existing power station with a 1,000 MW coal-fired power plant and a 1,000 MW natural gas-fired power plant. The project is installed on a capped ash landfill using ballasted foundations. Energy is sold under a long-term power purchase agreement with OUC. COD was achieved in September 2017.
Orlando, FL
6,820 kW DC
September 2017
-
480 McClellan
480 McClellan Solar is a 600 kW DC rooftop solar project in Boston, Massachusetts. The system was installed on a privately-owned building and sells net metering credits under a long-term agreement with University of Massachusetts Boston. The project generates and sells renewable energy certificates under Massachusetts SREC II program and went into commercial operation in November 2016.
Boston, MA
600 kW DC
November 2016
-
North and South Peninsula
North and South Peninsula is a 1,950 kW DC fixed-tilt, ground mounted, solar project located in Wilmington, Delaware. The project went into commercial operation in November 2013 under the State’s Solar Renewable Energy Credit (SREC) Program. The project is split into two equivalent arrays of 975 kW DC each and is constructed on a seven acre, privately-owned, industrial brownfield using ballasted foundations. The project sells energy and SRECs to Delmarva Power & Light (Delmarva) under separate long-term contracts.
Wilmington, DE
1,950 kW DC
November 2013
-
Interlake
Interlake is a 2,900 kW DC ground-mounted solar project located in Geneva, NY. Energy is sold to Ithaca College under a 25-year virtual net metering agreement. The project generates approximately 3.4 million kilowatt-hours per year of electricity which provides roughly 10 percent of the College's power needs. Commercial operation was achieved in November 2016.
Geneva, NY
2,900 kW DC
November 2017