Filed Pursuant to Rule 424(b)(3)
Registration No. 333-211571
SUPPLEMENT NO. 3 DATED JULY 10, 2017
TO THE PROSPECTUS DATED APRIL 14, 2017
This document supplements, modifies and amends, and should be read in conjunction with, the prospectus of Greenbacker Renewable Energy Company LLC (the “Company”) dated April 14, 2017, as supplemented by Supplement No. 1 dated May 3, 2017 and Supplement No. 2 dated May 18, 2017. Unless otherwise defined in this prospectus supplement, capitalized terms used in this prospectus supplement shall have the same meanings as set forth in the prospectus.
The purpose of this prospectus supplement is to describe the following:
| 1) | The status of the offering of limited liability company interests, or the shares, of the Company; and |
| 2) | Updating the table setting forth our investments. |
Status of Our Public Offering
We commenced our initial public offering of shares on April 25, 2014. As of July 7, 2017, we had accepted investors’ subscriptions for and issued approximately 17,557,000 shares in the offering, resulting in our receipt of gross proceeds of approximately $172,409,000.
Table Setting Forth Our Investments
The following information supersedes and replaces in its entirety the table on page 62 contained in the “Overview” section of the prospectus under the heading “Business”:
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The table below sets forth our investments in alternative energy generation portfolios as of June 30, 2017:
| Quarter(s) Acquired | Location(s) | # of Assets | Form of Investment | Initial Investment Amount* (Millions)** | Forecasted Initial Yield*** | Approximate Average Remaining Term to Power Purchase Agreement | Power Offtaker | Assets | Generation Capacity in (kW)* | Generation Equivalent (# of homes powered per year) | ||||||||||||||||||||
| Alternative Energy – Solar | ||||||||||||||||||||||||||||||
| East to West Solar | First quarter 2015 | CO, CT, HI, IN, NC | 13 | 100% Equity Ownership | $ 17.250 | mm | 12.10 | % | 13.5 years | Utility and commercial | Commercial ground and roof mounted systems | 9,789 | 1,605 homes | |||||||||||||||||
| Gainesville Solar | Second quarter 2015 | FL | 2 | 100% Equity ownership | $ 4.150 | mm | 14.50 | % | 16.0 years | Utility | Commercial ground mounted systems | 2,050 | 336 homes | |||||||||||||||||
| NC Tarheel Solar | Fourth quarter 2015 | NC | 2 | 100% Equity ownership | $ 8.399 | mm | 9.80 | % | 12.2 years | Utility | Commercial ground mounted systems | 7,621 | 1,250 homes | |||||||||||||||||
| Magnolia Sun | Third quarter 2015, First quarter 2016 | CA, MA, TN | 18 | 100% Equity Ownership | $ 10.850 | mm | 11.60 | % | 14.6 years | Utility and commercial | Commercial ground and roof mounted systems | 5,302 | 870 homes | |||||||||||||||||
| Green Maple | Fourth quarter 2014, Fourth quarter 2015 | VT | 9 | 100% Equity Ownership | $ 17.012 | mm | 12.40 | % | 19.6 years | Utility, municipal and commercial | Commercial ground mounted systems | 7,393 | 1212 homes | |||||||||||||||||
| Canadian Northern Lights | Fourth quarter 2014, Fourth quarter 2015 | ON, Canada | 79 | 100% Equity Ownership | $ 1.610 | mm | 12.10 | % | 14.4 years | Residential | Residential rooftop mounted systems | 560 | 92 homes | |||||||||||||||||
| Six States Solar | Fourth quarter 2015 | AZ, CA, CO, CT, IN | 26 | 100% Equity Ownership | $ 0.751 | mm | 7.60 | % | 13.4 years | Utility and commercial | Ground and roof mounted systems | 6,223 | 1,021 homes | |||||||||||||||||
| Floyd Road | Second quarter 2017 | NC | 1 | 100% Equity Ownership | $ 10.641 | mm | 8.50 | % | 14.9 years | Utility | Commercial ground mounted systems | 6,750 | 1,107 homes | |||||||||||||||||
| Greenbacker Residential Portfolio #1 | Third quarter 2016, First quarter 2017, Second quarter 2017 | AZ, CA, CT, HI, MD, MA, NJ, NY | 2,358 | 100% Equity Ownership and Managing Member Equity Owner | $ 27.850 | mm | 12.20 | % | 18.3 years | Residential | Residential rooftop mounted systems | 18,313 | 3,003 homes | |||||||||||||||||
| Greenbacker Residential Portfolio #2 | Second quarter 2017 | AZ, CA, CT, MD, MA, NV NJ, NY | 1,252 | Managing Member, majority equity owner | $ 6.0 | mm | 14.90 | % | 18.5 years | Residential | Residential rooftop mounted systems | 8,899 | 1,462 homes | |||||||||||||||||
| Enfinity Colorado DHA Portfolio | First quarter 2017 | CO | 666 | 100% Equity Ownership | $ 1.425 | mm | 10.10 | % | 15.0 years | Residential | Residential rooftop mounted systems | 2,508 | 411 homes | |||||||||||||||||
| Sunny Mountain | Third quarter 2014 | CO | 21 | 100% Equity Ownership | $ 0.920 | mm | 12.00 | % | 13.2 years | Utility, commercial and residential | Commercial and residential ground and roof mounted systems | 801 | 131 homes | |||||||||||||||||
| Alternative Energy – Wind | ||||||||||||||||||||||||||||||
| Fairfield Wind | Fourth quarter 2015 | MT | 1 | Managing Member, majority equity owner | $ 19.027 | mm | 10.70 | % | 16.8 years | Utility | Operating wind power facilities | 10,000 | 2,214 homes | |||||||||||||||||
| Greenfield Wind | Fourth Quarter 2016 | MT | 1 | Managing Member, majority equity owner | $ 34.773 | mm | 12.20 | % | 24.8 years | Utility | Operating wind power facilities | 25,000 | 5,535 homes | |||||||||||||||||
| Fossil Gulch Wind Park | Second quarter 2017 | ID | 1 | 100 % Equity Ownership | $ 6.531 | mm | 12.80 | % | 8.3 years | Utility | Operating wind power facilities | 10,500 | 2,325 homes | |||||||||||||||||
| Energy Efficiency – Lighting Replacement | ||||||||||||||||||||||||||||||
| Energy Efficiency Lighting | Third quarter 2015 | Puerto Rico | 3 | Capital Lease | $ 0.559 | mm | 15.40 | % | 4.9 years | N/A | Energy efficiency LED lighting | N/A | N/A | |||||||||||||||||
| Renew AEC One LLC (Kane Warehouse) | Fourth quarter 2015 | PA | 1 | Secured Loan | $ 1.086 | mm | 10.30 | % | 6.7 years | N/A | Energy efficiency LED lighting | N/A | N/A | |||||||||||||||||
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* Approximate.
** Does not include assumed project level debt.
*** The forecasted initial (or first year) yield is equal to the asset’s net cash flow divided by the purchase price of the asset, expressed as a percentage. The asset’s first year of net cash flow is equal to electricity revenue net of operating expenses and debt service payments. Electricity revenue is equal to the forecast first year’s electricity production multiplied by the contracted electricity rate plus the contracted price of renewable energy credits, to the extent applicable. Operating expenses are based on first year contracted expenses. The initial yield does not factor in expenses incurred, or closing costs involved, in the acquisition of the asset. The initial yield is not a measure of the fund’s performance and it is not necessarily indicative of distributions that the fund may provide to investors. This metric may vary over time based on the variability of electricity production.
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