Solar Energy

Published on July 28th, 2020 | by greentechheadlines

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28-MW portfolio of 10 solar projects in NJ, IL and SC receives funding –

28-MW portfolio of 10 solar projects in NJ, IL and SC receives funding –

Close demonstrates
continued momentum in solar asset investment

Soltage and Basalt
Infrastructure Partners announced an investment in a 28-MW solar
portfolio. The investment was funded by the Helios investment vehicle that the
partners created to own and operate solar assets. The portfolio includes 10
solar projects located in New Jersey, Illinois and South
Carolina. All projects are under construction and will be placed in service in
2020 and 2021. 

The New Jersey project
totals 3 MW, is located on a landfill and will provide power to local low- and
moderate- income households through New Jersey’s Community Solar
Energy Pilot Program. The Illinois projects total 9 MW and are part
of the state’s new community solar program. The projects will supply clean
power for municipal, commercial and residential customers across
Illinois.  The South Carolina projects total 16 MW and sell
power to Duke Energy as part of the Public Utility Regulatory Policies Act
(PURPA).

“These projects will
create much needed jobs, save money for American consumers and put more
renewable power on the grid,” said Jesse Grossman, Soltage Co-Founder
and CEO. “It could not be a more important time to invest in solar, and we
are pleased to announce our continued growth and deployment of capital in
best-in-class solar projects across the country.”

This announcement brings
Soltage’s total project capacity under construction in 2020 thus far to over
100 MW and also points to continued interest from mainstream investors into
solar assets, despite economic dislocation caused by the COVID-19 pandemic,
said Soltage.

The Solar Energy Industry
Association (SEIA) forecasts 33 percent annual growth in 2020, and 18 gigawatts
(GW) of new solar installations to come online before the end of the year.


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