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ENERGY & UTILITIES | Renewables / Solar
soltage.com

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Founded Year

2005

Stage

Debt - II | Alive

Total Raised

$284.18M

Last Raised

$130M | 2 days ago

About Soltage

Soltage is a full-service renewable energy company that develops and operates solar energy stations on client sites across the USA. Using technology and on-site generation, Soltage can supply a portion of client long-term energy needs at a cost below retail rates.

Soltage Headquarter Location

66 York Street 5th Floor

Jersey City, New Jersey, 07302,

United States

201-432-1786

Latest Soltage News

Soltage Closes $130M Debt Facility Led By Silicon Valley Bank To Finance National Solar Portfolio

Jul 27, 2021

Soltage Closes $130M Debt Facility Led By Silicon Valley Bank To Finance National Solar Portfolio Investment to fund 110 MW distributed utility-scale project portfolio across six states Author: Jul 27, 2021 7:00 AM EDT JERSEY CITY, N.J., July 27, 2021 /PRNewswire/ -- Today, Soltage LLC , a leading independent renewable power producer, and Silicon Valley Bank, an innovative bank active in the renewable energy and technology sector, announced that it raised a $130M debt facility led by Silicon Valley Bank. The investment will finance a 110 MW national portfolio of projects across six states: North Carolina, South Carolina, Maine, Illinois, Virginia and Maryland. The construction of this portfolio will be staged over the next three quarters, with construction currently underway on ten projects across four states. Customers purchasing electricity from the projects financed through this debt vehicle include Investor Owned Utilities buying power under Public Utility Regulatory Policies Act (PURPA) contracts, community solar subscribers and corporations purchasing power from the portfolio to meet clean energy goals and lower energy costs. Silicon Valley Bank is the Sole Coordinating Lead Arranger of the debt facility with three other banks included as lenders. This facility includes an optional $100M expansion feature to finance additional projects beyond the current set of identified projects. This announcement marks the latest development for the Soltage Iris capital vehicle, following Soltage and Harrison Street's $250M commitment in March 2021 to deliver 450 MW of new solar, solar+storage and standalone storage development across the United States. "Soltage continues to provide stable investment opportunities for capital providers who are looking for bankable approaches to sustainable infrastructure investment," said Sripradha Ilango, Soltage CFO. "We are pleased to continue to bring to market high quality project portfolios that open avenues for corporations, utilities and families to adopt solar power and achieve decarbonization priorities." "We are at a critical point where funding domestic infrastructure to bring more clean energy online in the United States is of the utmost importance," said Bret Turner, Market Manager at Silicon Valley Bank. "Our team is proud to work with Soltage to support building these essential zero carbon energy projects in key locations across the country." This announcement is part of a continued movement of mainstream investors looking to solar and other renewable infrastructure assets for long-term investment opportunities. Soltage has deployed over $1B into clean energy assets across the US since its founding in 2005. About SoltageSoltage 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 400 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 Silicon Valley BankFor nearly 40 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. SVB's project finance group works with project owners, sponsors and investors to finance large residential, commercial and industrial, and utility-scale projects. Learn more at svb.com/industry-solutions/cleantech-and-sustainability. View original content to download multimedia: https://www.prnewswire.com/news-releases/soltage-closes-130m-debt-facility-led-by-silicon-valley-bank-to-finance-national-solar-portfolio-301340443.html SOURCE Soltage

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Expert Collections containing Soltage

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Soltage is included in 3 Expert Collections, including Renewable Energy.

R

Renewable Energy

2,727 items

Includes companies working on technology to support renewable energy generation.

S

Solar

1,123 items

This collection contains upstream and downstream solar companies, as well as those who manufacture and sell products that are powered by solar technology.

S

Smart Cities

1,343 items

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