Soltage, Harrison Street produce 450-MW US solar-plus-storage partnership

Mar 23, 2021 01:55 PM ET
  • United States independent power manufacturer Soltage LLC has actually created a USD-250-million (EUR 210m) partnership with Chicago-based investment manager Harrison Street to money solar and other clean energy projects.
Soltage, Harrison Street produce 450-MW US solar-plus-storage partnership
Image: Oregon Department of Transportation

Both partners prepare to mount 450 MW of distributed solar as well as storage projects throughout the country, beginning with a 14.5-MW portfolio worth USD 30 million. That preliminary portfolio will consist of five distributed solar projects in Maine, North Carolina, South Carolina as well as Virginia, selling power to utilities, corporates and neighborhood off-takers.

Building job is attended be finished in 2021 after which Soltage will operate the solar parks.

Headquartered in Jersey City, New Jersey, Soltage is backed by investors such as Prudential Capital Group. Its previous financial investment collaborations have actually poured USD 1 billion right into the United States tidy energy economy over the last 15 years, the firm noted.

On the other hand, Harrison Street has committed close to USD 400 million in equity across investments in wind, solar and hydropower projects given that 2018. The initial financial investment of the new partnership brings its renewable energy portfolio to over 330 MW.