OneRoof Energy has sold a portfolio of residential solar-panel arrays to a New York company for $19.8 million.
Greenbacker Renewable Energy Company LLC acquired 12.1 megawatts worth of rooftop-solar installations in seven states, including an undisclosed number in Connecticut.
California-based OneRoof will keep a minority stake in the portfolio and will continue to perform operations and maintenance functions.
Energy generated by the leased solar arrays will be sold to homeowners with relatively high average credit scores (between 740 and 799), Greenbacker said.
With the new deal, Greenbacker said it now controls more than $100 million in energy assets, including solar and wind, totaling 62 megawatts in North America.
“This segment of the market has become increasingly sophisticated and opportunities for securitization of these portfolios provide significant upside potential,” Greenbacker CEO Charles Wheeler said in a statement.
