June 14 (Renewables Now) - Independent solar power producer Soltage LLC on Thursday announced a “significant investment” from Prudential Capital Group that will help it grow its business and expand in emerging markets across the US.
More specifically, the funds will allow New Jersey-based Soltage to acquire and develop new photovoltaic (PV) projects and strategic initiatives on the solar market. The amount of the investment and further details about the transaction were not available.
Soltage, among whose investors is US independent power producer Tenaska, has more than 300 MW of power generation capacity under construction and management across 14 states. Since the start of this year, the company has completed 50 MW of PV projects, while since it was set up in 2015, it has poured over USD 600 million (EUR 532.1m) into the solar sector, according to the statement.
(USD 1.0 = EUR 0.887)