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COMPANY
Press Release
Tenaska Solar invests equity capital in Soltage
Jersey City, New Jersey – December 4, 2008: Soltage LLC today announced an equity investment from a subsidiary of Tenaska Inc, Tenaska Solar LLC. The investment will be used to further Soltage’s expansion as a premier supplier of solar energy to commercial, government, and utility clients across the nation.
Soltage is a privately-held renewable energy provider and provides discounted and stabilized electricity to large energy consumers. With active solar projects in two states, Soltage is headquartered in Jersey City, New Jersey with offices in Hartford, Connecticut. Tenaska Solar is a privately-held company owned by Tenaska Energy, one of the largest independent power producers in the United States. Tenaska has developed approximately 9,000 megawatts of electric generating capacity across the United States and is headquartered in Omaha, Nebraska, with offices in Dallas, Texas; Denver, Colorado; and Calgary, Alberta Canada.
“We are pleased to have crafted a relationship with an established energy company such as Tenaska,” said Jesse Grossman, Soltage chief executive officer, “their profile of financial and operational excellence dovetails well with our core competencies, and we look forward to working with these partners as we expand our portfolio of solar assets in these growth markets for the years to come.”
“Tenaska is excited to move into the solar sector through this investment in Soltage,” said Dave Kirkwood, Tenaska’s vice president of strategic development. “The Soltage model, as executed by management, is well crafted to create strong value to the solar electricity consumer while at the same time provide strong investment opportunities through solar asset finance to the broader investment community.”
“Soltage looks forward to continuing and expanding our work with partners, clients, and suppliers over the coming quarters,” said Vanessa Stewart, Soltage’s chief operations officer. “This partnership with Tenaska is well in line with our growth plans and speaks to our solidity in the marketplace, and our prospects for the future.”
About Tenaska Solar, LLC
Tenaska Solar, LLC is a privately-held company owned by employees of Tenaska Energy, Inc. Tenaska is one of the largest independent power producers in the United States, with headquarters in Omaha, Nebraska and offices in Dallas, Texas; Denver, Colorado; and Calgary, Alberta Canada. Forbes magazine ranks Tenaska as 24th among the 441 largest privately-held U.S. companies, based on 2007 revenues. Tenaska affiliates currently operate, manage and own in partnership with other companies eight power plants in six states totaling approximately 6,800 MW of generating capacity. Tenaska affiliates also market natural gas, electric power and biofuels with Tenaska’s natural gas marketing affiliate rated as one of the top ten natural gas marketers in North America. Tenaska affiliates are also involved in private equity fund and acquisition management, fuel supply, gas transportation systems and electric transmission development. For more information about Tenaska, visit the company's Web site at www.tenaska.com.
About Soltage, Inc.
Soltage is a full service renewable energy company that develops and operates solar energy stations on client sites across the U.S. Using proven technology and on-site generation, Soltage can supply a significant portion of client long-term energy needs at a stabilized cost below retail rates. The company is privately owned and is based in Jersey City, New Jersey, with offices in Hartford, Connecticut. For more information about Soltage, visit the company’s website at www.soltage.com .
MEDIA INQUIRIES
Jesse Grossman or Vanessa E-H Stewart
(201) 432-1786
media@soltage.com