Greenbacker posts PPA gains, adds 41 MW solar in Q1 2025

Greenbacker Renewable Energy Company LLC, a U.S.-based independent power producer, has reported its Q1 2025 financial and operational performance. The company generated $47.5 million in operating revenue, with wind and solar PPA revenue rising 17% year-over-year to $38.8 million. Although total revenue declined 3% due to REC timing and a non-core asset sale, core operations remained strong. Greenbacker recorded a net loss of $15.6 million, attributed to depreciation and impairment charges, while adjusted EBITDA increased 56% to $14.4 million, supported by cost savings and asset optimization. The company added 41 MW to its operating fleet, boosting generation 14% to 676 million kWh. According to Greenbacker, it saved $19 million on 1 GW solar module procurement. Construction of its 674 MW Cider project remains on track for late 2026 commissioning.