Soltage LLC today announced an investment by Soltages 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 Soltages 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 Soltages 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.