Igneo Infrastructure Partners, a leading global infrastructure investment manager, has recently announced its acquisition of a majority equity interest in Soltage LLC, a prominent renewable power producer operating across 18 states in the United States. With approximately $18 billion in assets under management, Igneo Infrastructure Partners brings considerable expertise and resources to the partnership. The anticipated closing of this transaction is set for later this year, with the terms of the agreement remaining undisclosed.

Headquartered in Jersey City, New Jersey, Soltage has been at the forefront of the renewable energy sector since its establishment in 2005. The company specializes in the development, ownership, operation, and management of solar and storage assets throughout the United States. Over the past 17 years, Soltage has achieved remarkable growth, having successfully developed over 500 MW of solar assets and deployed more than $1 billion into approximately 125 clean energy projects for utility, commercial, industrial, and municipal customers.

By joining forces with Igneo Infrastructure Partners, Soltage aims to transition to a full independent power producer (IPP) business model and further expand its existing portfolio of solar and storage projects. With a robust 1.9-GW pipeline of identified projects, Soltage is well-positioned to capitalize on the increasing demand for renewable energy solutions. Notably, the company is currently in the process of constructing its first standalone battery storage project in New York.

The transaction between Igneo Infrastructure Partners and Soltage involves the acquisition of the equity interest from various investors, including Prudential Private Capital, as well as members of the management team. Importantly, Soltage’s co-founder and CEO, Jesse Grossman, CFO Sripradha Ilango, and other key members of the management team will retain ownership stakes in the company, ensuring continuity and expertise within the organization.

Soltage represents Igneo Infrastructure Partners’ fifth asset in North America and its inaugural venture into the U.S. distributed generation sector. With distributed generation technology, renewable energy is generated near the source, resulting in greater efficiency and reduced transmission losses. This strategic move showcases Igneo Infrastructure Partners’ commitment to sustainable energy solutions and its confidence in Soltage’s capabilities as a leading renewable power producer.

The acquisition of a majority stake by Igneo Infrastructure Partners in Soltage marks a significant milestone for both companies, highlighting their shared dedication to advancing the renewable energy sector in the United States. With Soltage’s extensive experience and Igneo Infrastructure Partners’ global influence, this partnership aims to shape a more sustainable future by driving the development of solar energy and storage projects that will deliver clean and reliable energy to communities across the nation.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The energy market is highly volatile, and readers should conduct thorough research before making any investment decisions.