Soltage, a leading independent power producer, announced this Wednesday it has invested in a 31-megawatts portfolio of five community solar projects located in South Carolina and Illinois. The investment comes from Soltage’s Iris capital vehicle with Harrison Street.
Firstly, the investment is in fact the most recent deployment from Soltage’s Iris capital vehicle with Harrison Street. They partnered back in March 2021 to deploy 450 MW of solar and storage projects across the United States. It was a $250 million partnership.
Moreover, today’s announcement brings the total investment deployed through the Soltage Iris vehicle to 16 total solar facilities and over 60 MWs.
In addition, the portfolio of projects includes one project in Illinois and four others in South Carolina. According to the statement, the electricity generated from these projects will be sold to municipal; commercial and residential community solar customers, as well as local utilities.
Furthermore, these projects will create local green job opportunities and generate tax revenue for regional economies. Jesse Grossman, Soltage co-founder, and CEO said about the matter. “We are proud to announce this investment, building on our 15-year track record of developing and investing in renewable energy assets to serve our diverse base of electricity consumers.”
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Soltage with over $1 billion investment in clean energy
He also remarked. “Portfolio execution on this scale involves a host of dedicated partners, both local and national, and we are grateful to them as we work to assist the U.S. in its clean energy market transition.”
On the other hand, today’s announcement demonstrates a continuation of Soltage’s strategy to deploy renewable assets nationwide at scale; under open regulatory programs in individual state markets.
Indeed, the company has established a leadership position in community solar markets; where power can be sold to retail customers, as well as wholesale solar markets; where electricity goes to corporates and utilities
Finally, Soltage has raised and invested over $1 billion into clean energy infrastructure since its founding in 2005. The company has developed over 100 clean energy projects; and has more than 450 MW of total distributed generating capacity under construction and management across the country.