CRC-IB (now CG/ CRC-IB) Advises Greenbacker on Tax Equity Financing for 674MWdc Solar Project
Greenbacker Renewable Energy Company, LLC (“Greenbacker”), an energy transition-focused investment manager and independent power producer, has closed tax equity financing for its Cider solar project – a 674MWdc utility-scale project in Genesee County, New York. Cider is Greenbacker’s largest clean energy asset to date and is expected to be the largest solar farm in the state of New York when completed in 2026.
CRC-IB, now operating as CG/ CRC-IB following its acquisition by Canaccord Genuity, served as Greenbacker’s financial advisor on the transaction, which includes a tax capital investment from two U.S. commercial banks.
“This transaction represents best-in-class execution across a highly complex financing structure,” said Carl Weatherley-White, Chief Financial Officer of Greenbacker. “The tax equity commitment meaningfully optimizes Cider’s capital stack and completes the final piece of financing required to advance the project to commercial operation. We are grateful for the collaboration among our tax equity partners, lenders, and advisors, whose coordination was critical to achieving this milestone.”
“Cider sets a strong precedent for the next wave of utility-scale solar in New York,” said Andy Nguyen, Managing Director at CG/ CRC-IB and deal lead. “Delivering the state’s largest solar project requires rigor from development through financing, and we’re pleased to support a client that is raising the bar for responsible growth.”
About Greenbacker
Greenbacker Renewable Energy Company LLC is a publicly reporting, non-traded limited liability sustainable infrastructure company that both acquires and manages income-producing renewable energy and other energy-related businesses, including solar and wind farms, and provides asset management services to other renewable energy investment vehicles. We seek to acquire and operate high-quality projects that sell clean power under long-term contracts to high-creditworthy counterparties such as utilities, municipalities, and corporations. We are long-term owner-operators, who strive to be good stewards of the land and responsible members of the communities in which we operate. Greenbacker conducts its asset management business through its wholly owned subsidiary, Greenbacker Capital Management, LLC, an SEC-registered investment adviser, which generates revenue as an advisor to multiple energy-transition focused strategies. We believe our focus on power production and asset management creates value that we can then pass on to our shareholders—while facilitating the transition toward a clean energy future. For more information, please visit https://greenbackercapital.com.
About CG/ CRC-IB
CG/ CRC-IB is a full-service investment bank providing industry-leading financial services across the energy transition. In January 2026, CRC-IB was acquired by Canaccord Genuity Group to deliver M&A, project finance, capital raising, and strategic advisory services to public and private companies and financial sponsors across the renewable energy, commercial, and industrial sectors, leveraging Canaccord Genuity’s globally integrat ed M&A advisory and ECM-driven capital markets capabilities. Canaccord Genuity Capital Markets is the global capital markets division of Canaccord Genuity Group Inc. (TSX: CF), offering institutional and corporate clients idea-driven investment banking, mergers and acquisitions (M&A), research, sales and trading services with capabilities in North America, the UK & Europe, Asia, and Australia. We are committed to providing value-driven services to our clients throughout the entire lifecycle of their business and operating with high standards of excellence as an independent investment bank – expansive in resources and reach, but targeted in industry expertise, market focus and individual client attention. We are driven by your success. For more information, visit www.crc-ib.com and connect with us on LinkedIn.
