HECATE ENERGY
ORES Greenlights New York's Largest Solar Farm; Spurs Start of Construction

Hecate Energy LLC ("Hecate") and Greenbacker Renewable Energy Company ("Greenbacker") announce that the 500-megawatt (MW) Cider Solar Farm is moving forward with construction as approved by the New York Office of Renewable Energy Siting and Transmission ("ORES").

Hecate is a leading developer of renewable power projects and energy storage solutions across the United States. Greenbacker is an energy transition-focused independent power producer and investment manager; the company finalized its acquisition of the Cider Solar Farm project from Hecate in 2024, becoming its long-term owner and operator.

Greenbacker secured $950 million in aggregate financing to support the acquisition, construction, and operation of Cider Solar Farm, which is its largest clean energy project to date. When complete, it will be the largest solar project in the state of New York.

With the ORES Siting Permit and a formal notice to proceed with construction with this flagship project, Hecate and Greenbacker reaffirm their commitments to powering New York's clean energy future. The utility-scale photovoltaic (PV) solar project, spanning approximately 2,500 acres near the towns of Elba and Oakfield in Genesee County, is poised to bring transformative benefits to the region and help advance New York state's renewable energy goals.

Construction of the Cider Solar Farm will generate hundreds of construction jobs. All recruiting efforts for the craft labor workforce prioritize Western New York. The construction of Cider Solar Farm will contribute tens of millions of dollars in wages to the local economy.

Beyond the immediate economic impact, this project will deliver dedicated, long-term revenue to fund essential services, including local governments, schools, and fire departments, enhancing the community's resilience and prosperity. Hecate and Greenbacker signed Host Community Benefit Agreements with both Elba and Oakfield, committing to invest in local development initiatives and creating job opportunities for residents, ensuring that both towns directly benefit from the project's long-term economic impact.

"As New York's largest solar energy project, Cider Solar Farm will be instrumental in delivering reliable, emissions-free power to meet the state's rising electricity demand," said Harrison Luna, project developer for Cider Solar Farm at Hecate Energy. "We are proud to work alongside Greenbacker in bringing this landmark project to life and contributing to a cleaner, more sustainable energy infrastructure for New York."

Initially receiving siting approval by ORES in 2022, Cider Solar Farm recently completed required pre-construction filings and received notice to proceed from ORES, paving the way for construction to commence. The project is expected to generate 920,000 megawatt-hours of homegrown electricity per year enough to power over 120,000 New York households. According to U.S. Census data, this output could power all households in Genesee County (26,013 homes), as well as those in neighboring counties including Livingston, Orleans, Wyoming, and Allegany. The electricity produced by Cider Solar Farm will diversify New York's energy mix and boost America's energy independence.

This significant project highlights Hecate Energy's capabilities in managing complex renewable energy developments and delivering on large-scale infrastructure. Together with Greenbacker's energy transition investment expertise, Cider Solar Farm exemplifies the collaboration needed to drive impactful, sustainable energy solutions. This project also marks the third clean energy collaboration between Greenbacker and Hecate. Over the past several years, Greenbacker has acquired more than 70 MWac of utility-scale solar in New York from the developer.

"Greenbacker is thrilled to partner once again with Hecate to bring this landmark solar farm to life a true milestone in advancing New York's clean energy future," said Charles Wheeler, CEO of Greenbacker. "This achievement highlights how collaboration is accelerating the energy transition with projects that will deliver sustainable power for years to come."

For more information on Hecate Energy and the Cider Solar Farm, visit www.CiderSolarFarm.com or contact the project team at CiderSolar@HecateEnergy.com.

About Hecate Energy

Hecate Energy was founded in 2012 by a team of energy industry veterans and has successfully developed 4.1 GWs of projects to construction or operations. Hecate believes in establishing beneficial, sustainable, and collaborative partnerships with the host communities where its projects are located and tailors each renewable energy project it develops to better meet the needs of project stakeholders.

Hecate Energy has entered over 6 GWac of renewable power purchase agreements (PPAs) across 55 PPAs with 24 counterparties as well as projects that are selling through merchant markets. Projects that Hecate has developed and that are constructed or are under construction include over 4 GWac of solar projects and 103 MWac of battery storage projects totaling over $6 billion in asset value. Hecate has an active development pipeline of over 43.7 GWac of renewable projects.

About Greenbacker Renewable Energy Company

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. 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.