Le Lézard
Classified in: Environment, Science and technology, Business
Subject: CXP

Soltage and Basalt Launch Helios Power to Deploy 200 MW of Solar in the U.S.


JERSEY CITY, N.J. and NEW YORK, July 18, 2019 /PRNewswire/ -- Today, leading independent power producer, Soltage LLC  ("Soltage") and the second flagship Basalt fund ("Basalt II"), an infrastructure equity investment fund, announced the launch of a new funding vehicle, Helios Power, which is expected to fund the construction of 200 megawatts (MW) of solar assets across the U.S.

Soltage Logo (PRNewsfoto/Soltage)

The launch of Helios Power follows completion of the expansion of Hyperion Power, a collaboration between Soltage, funds managed by the Basalt group and also Basalt's first flagship fund ("Basalt I"), comprising a portfolio of 135MW of distributed U.S. solar generation assets across diverse markets including California, Massachusetts, North Carolina, New Jersey, South Carolina and Georgia.

Building upon this prior partnership, Helios Power will continue distributed solar asset investment in the commercial and industrial, utility, community solar, municipal and corporate PPA markets, while also expanding the investment mandate to include solar plus storage, stand-alone storage and operating solar investment.

"We're proud to work with the Basalt funds to continue our track record of structuring high-quality investments across the Soltage platform, while at the same time expediting the rate at which our industry can put clean power on the grid," said Jesse Grossman, Soltage Founder and CEO. "Through the careful setup and execution of our capital vehicles, we've continued to streamline our process of getting the right capital into the right projects."

"We are very pleased to make this second investment alongside Soltage, who have proven themselves to be a top tier development and operating platform that can put capital to work and manage the complexity inherent in this industry," said Rob Gregor, Managing Partner of Basalt Infrastructure Partners LLP, investment advisor to the Basalt funds. "Helios Power provides a unique opportunity to invest in a high quality, distributed solar generation business in a geography that we know well and believe will offer opportunities to deploy further capital over time at attractive returns."

The solar industry continues to grow as an attractive sector of the U.S. economy to place capital into valuable clean energy infrastructure assets. The Solar Energy Industry Association (SEIA) and Wood Mackenzie Power & Renewables project that over the next five years, total installed U.S. PV capacity will more than double, with annual installations reaching 16.4 GWdc in 2021.

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About Soltage
Soltage is a leader in the development, financing, and operation of distributed utility-scale solar assets for commercial, industrial and municipal customers across the United States. Soltage has developed more than 100 solar energy projects with more than 300 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 Basalt
Basalt Infrastructure Partners LLP is the exclusive investment adviser to the Basalt managed funds. Basalt I and Basalt II are infrastructure equity investment funds focusing on investments in utilities, power, transport, and communications infrastructure in the United States, Canada and Europe. Helios Power represents Basalt's eighth investment in the Basalt II fund. Other investments by the Basalt funds include the Upper Peninsula Power Company (UPPCO), Texas Microgrid, Detroit Renewable Energy and DB Energy Assets in the United States, and North Star, Mareccio Energia, Caronte and Tourist, Manx Telecom, and Connect Fibre in Europe. For more information, please visit www.basaltinfra.com

SOURCE Soltage


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News published on 18 july 2019 at 13:40 and distributed by: