Greenbacker Renewable Energy Corporation

What Greenbacker Renewable Energy Corporation does

Greenbacker Renewable Energy Corporation, founded in 2011 and headquartered in New York, is a privately held multi-strategy investment manager and independent power producer focused on the energy transition. The firm operates two integrated segments: Greenbacker Capital Management (GCM), which advises several energy-transition-focused investment strategies — including sustainable infrastructure (GREC, GREC II), private equity in distributed energy platforms (GDEV Management), and Qualified Opportunity Zones (GROZ) — serving both individual investors via financial advisor networks and institutional investors via direct sales; and Greenbacker IPP, which acquires, owns, and operates clean energy infrastructure assets including utility-scale solar, wind, and battery energy storage. As of March 31, 2026, the company reports $3.1 billion in assets under management, 3.3 GW of clean energy capacity, 17.1 million MWh of cumulative clean energy production since 2016, and 120+ employees.

The business model is hybrid and vertically integrated. GCM generates asset management and incentive fees on the committed capital across its fund vehicles, while IPP generates revenue through the production and sale of clean power from owned assets. Notable operating projects include the 240 MWdc Appaloosa Solar and 104 MWdc Graphite Solar in Utah, the 73 MW Weaver Wind in Maine, the 57 MW Altamont Wind in California, the 30 MW/120 MWh Holtville battery storage system in California, and the 674 MW Cider solar project in New York State — the largest solar project in the state and the recipient of $440 million of tax equity financing closed in February 2026. The asset footprint spans nine US states, including California, New York, Utah, Iowa, Minnesota, Maine, Nevada, Vermont, and Colorado. Distribution is primarily sales-led: institutional investors are reached through a dedicated capital-raising team, while individual investors access the funds via their financial advisors and representatives.

Name

Greenbacker Renewable Energy Corporation

Legal name

Greenbacker Renewable Energy Corporation

Website

https://greenbackerrenewableenergy.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

1–10 employees

Short description

Greenbacker is a multi-strategy investment manager and independent power producer operating solar, wind, and battery storage assets across the US, managing $3.1B AUM across dedicated infrastructure, private equity, and Qualified Opportunity Zone fund vehicles for individual and institutional investors.

Ownership category

akta.pro rank

Product category

Renewable Energy Investment Management

NAICS

Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Other Financial Vehicles (52599), Electric Power Generation (22111)

SIC

Electric Services (4911)

akta.pro primary industry

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)

akta.pro secondary industries

Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations) (EUACAFAF), Renewable Energy Infrastructure (FSAAAKAG), Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy) (EUAMAAAE), Project Finance & Capital Structuring (Debt/Tax Equity/Project Bonds) (EUAMAAAD)

Keywords

• Renewable energy investment
• Solar power development
• Wind energy generation
• Energy storage projects
• Sustainable infrastructure

Headquarters

HQ city

Not explicitly disclosed

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Asset Management Fees: Greenbacker Capital Management (GCM) earns fees from managing investment strategies for individual and institutional investors. GCM offers direct investments across multiple energy-transition focused strategies including sustainable infrastructure and private equity.
2. Clean Energy Power Production and Sales: As an independent power producer (IPP), Greenbacker generates revenue by producing and selling clean power from its owned and operated solar, wind, and energy storage assets. Projects deliver power across the most resilient areas of the economy, with assets ranging across size, geography, and power sources.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Greenbacker Renewable Energy Corporation operates as a multi-strategy investment manager and independent power producer (IPP). Through Greenbacker Capital Management (GCM), it offers direct investments to individual and institutional investors across energy-transition focused strategies including sustainable infrastructure, private equity, Qualified Opportunity Zones, and real estate. Through Greenbacker IPP, it acquires, owns, and operates hundreds of clean energy infrastructure assets spanning solar, wind, and energy storage that generate revenue by producing and selling clean power.

Product overview

Greenbacker Renewable Energy Corporation operates as a multi-strategy investment manager and independent power producer with two main integrated segments: Greenbacker Capital Management (GCM), which provides investment management, capital raising, and investor services for energy-transition focused strategies targeting individual and institutional investors; and Greenbacker IPP, which acquires, owns, and operates hundreds of clean energy infrastructure assets across solar, wind, and energy storage. The company's project portfolio includes utility-scale solar plants (Appaloosa Solar at 240 MWdc, Graphite Solar at 104 MWdc), wind projects (Weaver Wind at 73 MW, Altamont at 57 MW), and battery energy storage systems (Holtville BESS at 30 MW/120 MWh), collectively representing 3.3 GW of clean energy capacity.

Differentiator

Problem solved

Functional benefit

Brands

• Greenbacker IPP: Independent power producer segment that acquires, owns, and operates hundreds of clean energy infrastructure assets including solar, wind, and energy storage projects.
• Greenbacker Capital Management (GCM)

Products and services

• Greenbacker Capital Management (GCM)

Quantifiable outcome

• 17.1 million MWh of clean energy produced since 2016
• +2 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

Emerging players

• Pine Gate Renewables: US-focused utility-scale solar developer and IPP operating across multiple states. Pine Gate's project development pipeline and operational solar fleet have significant overlap with Greenbacker's utility-scale solar strategy, particularly as both target corporate offtake and community solar arrangements.

Broad incumbents

• Macquarie Asset Management (Green Investment Group): Macquarie's Green Investment Group is one of the largest dedicated green infrastructure investors and developers globally, with wind, solar, and storage investments. GIG competes directly with Greenbacker GCM for institutional capital allocations to energy transition strategies and operates similar greenfield-to-operating platforms.
• Lightsource bp: Global utility-scale solar development and IPP with significant US operations, backed by bp. Lightsource's multi-GW US development pipeline directly competes with Greenbacker IPP for utility-scale solar projects, tax equity, and long-duration offtake agreements with corporates and hyperscalers.
• NextEra Energy Partners: Yieldco sponsored by NextEra Energy owning a contracted renewable energy portfolio (wind and solar) across North America. As the largest US-focused renewable yieldco, it competes with Greenbacker IPP for institutional capital, offtake counterparties, and project acquisition targets.
• EDF Renewables North America: North American subsidiary of EDF Renewables developing, owning, and operating wind, solar, and storage projects. EDF's scale, balance sheet, and multi-state US operating footprint position it as a much larger, but functionally comparable, competitor across both IPP development and asset management.

Direct peers

• Atlantica Sustainable Infrastructure: Sustainable infrastructure company owning and operating renewable energy and water assets across the Americas and EMEA. While more geographically diversified, Atlantica's contracted renewable IPP model with diversified solar/wind/storage assets closely resembles Greenbacker IPP's business model.
• Hannon Armstrong Sustainable Infrastructure Capital (now KKR): Originally a publicly traded investor in climate solutions across renewable energy, energy efficiency, and sustainable infrastructure with an integrated advisory platform - a direct analog to Greenbacker GCM. Its 2024 acquisition by KKR validated the broader infrastructure asset management thesis behind Greenbacker's model.
• Altus Power: US-based solar IPP serving commercial, industrial, and community solar customers through C&I PPAs and clean energy investments. Altus's combination of distributed-to-utility solar operations with a capital-light investment vehicle closely mirrors Greenbacker's two-segment model and target customer mix.
• Clearway Energy: US-focused renewable IPP owning and operating utility-scale solar, wind, and storage across multiple states. Clearway's pure-play US renewables focus, multi-state operating footprint, and reliance on tax equity financing for greenfield development make it one of the closest direct comps to Greenbacker IPP.
• Brookfield Renewable Partners: One of the world's largest publicly traded renewable IPPs and asset managers, operating hydro, wind, solar, and storage. Like Greenbacker, Brookfield combines a multi-GW operating fleet with a broad investment management platform (Brookfield Infrastructure Partners), making it the closest publicly traded analog to Greenbacker's integrated IPP-plus-investment-manager model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/greenbacker-renewable-energy-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Greenbacker Renewable Energy Corporation