Soltage Deploys 31 MW Multistate Community Solar and Utility-scale Solar Portfolio
$52 million investment will expand access to clean energy to communities in Illinois and South Carolina
JERSEY CITY, February 16, 2022—Soltage LLC, a leading independent power producer, today announced an investment by Soltage’s Iris capital vehicle with Harrison Street in a 31 megawatt (MW) portfolio of five solar projects located in South Carolina and Illinois.
The portfolio consists of one project in Illinois and four projects in South Carolina. The electricity generated from these projects will be sold to municipal, commercial and residential community solar customers, as well as local utilities. These projects will create local green job opportunities and generate tax revenue for regional economies.
This is the most recent deployment from Soltage’s Iris capital vehicle with Harrison Street, a $250 million partnership announced in March 2021 to deploy 450 MW of solar and storage projects across the United States. This announcement brings the total investment deployed through the Soltage Iris vehicle to 16 total solar facilities and over 60 MWs.
“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,” said Jesse Grossman, Soltage Co-Founder and CEO. “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.”
This announcement demonstrates a continuation of Soltage’s strategy to deploy renewable assets nationwide at scale under open regulatory programs in individual state markets. Soltage 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 is sold to corporates and utilities. Soltage is active in greenfield development, and develops alongside partners, to build renewable energy projects to achieve the clean energy goals of states and customers.
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 total distributed generating capacity under construction and management across the country.
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About Soltage Soltage is a leader in the development, financing and operation of distributed utility-scale solar and storage assets for commercial, industrial and municipal customers across the United States. Soltage has developed more than 100 clean energy projects with more than 450 MW total distributed generating capacity under construction and management. Soltage is backed by a group of investors including Prudential Capital Group and is headquartered in Jersey City, New Jersey. For more information, visit www.soltage.com.
About Harrison Street Harrison Street is one of the leading investment management firms exclusively focused on alternative real assets. Since inception in 2005, the firm has created a series of differentiated investment solutions focused on demographic-driven, needs-based assets. The firm has invested across senior housing, student housing, healthcare delivery, life sciences and storage real estate as well as social and utility infrastructure. Headquartered in Chicago with offices in San Francisco, Washington DC, London and Toronto, the firm has more than 200-employees and approximately $44 billion in assets under management. Clients of the firm include a global institutional investor base domiciled in North America, Europe, Middle East, Asia and Latin America. Harrison Street was awarded Best Places to Work by Pensions & Investments for seven consecutive years (2014-2020) and was named 2020 Global Alternatives Investor of the Year by PERE. For more information, please visit www.harrisonst.com