A memorandum of understanding (MoU) to this effect was signed by both the companies.
With this partnership, Hanergy can have a lasting relationship with a long-term capital source, which allows it to offer lower cost solar power.
Access to a meaningful pipeline of select solar projects gives Greenbacker an option to select the project to finance.
In addition, the partnership is believed to promote a more efficient process for getting renewable energy projects from development to service and thereby lead to cost savings and increased deal flows for both organizations.
Greenbacker Group co-founder and business development director Robert Sher said the company is pleased to have the opportunity to work with a Hanergy, a global leader in the renewable energy space, to finance this portfolio of high quality solar projects.
Hanergy Holdings America chairman and CEO Wu Yi said, "In working together with Greenbacker, we believe that we will be able to provide next generation solar technology to each and every corner of the United States."
