July 19 (Renewables Now) - New Jersey-based independent power producer Soltage LLC and an equity investment fund of Basalt Infrastructure Partners LP will jointly finance the construction of 200 MW of solar plants in the US.
A new funding vehicle of Soltage and Basalt II has been created for the purpose, called Helios Power, Soltage announced on Thursday. It will invest in distributed solar assets in the commercial and industrial (C&I), utility, community solar, municipal and corporate power purchase agreement (PPA) markets. It will also add solar-plus-storage, as well as standalone storage assets to its target investments.
Soltage, among whose investors is US independent power producer Tenaska, previously collaborated with the Basalt group and its first flagship fund Basalt I in the Hyperion Power capital vehicle. Through it, they invested in a 135-MW portfolio of distributed solar assets across the US, including California, Massachusetts, North Carolina, New Jersey, South Carolina and Georgia.