Igneo Infrastructure Partners has agreed to acquire a majority equity interest in Soltage, a renewable power producer operating in 18 U.S. states.
Based in Jersey City, N.J., Soltage focuses on the development, financing and operation of distributed utility-scale solar and storage assets for utility, commercial, industrial and municipal customers across the United States. The company has developed more than 500 megawatts of solar assets and deployed more than $1 billion into approximately 125 clean energy projects.
In partnership with Igneo, Soltage plans to transition to a full Independent Power Producer (IPP) business model and build out its 1.9-gigawatt pipeline of solar and storage projects. The company also is building its first standalone battery storage project in New York state.
Igneo is acquiring the equity interest in Soltage from investors, including Prudential Private Capital, alongside members of the company’s management team. Soltage represents I