
Soltage
And operates solar energy stations on client sites across the usa.
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* | $260m | Project, real estate, infrastructure finance | |
Total Funding | 000k |
Soltage operates as an independent power producer (IPP) focused on the development, financing, and operation of distributed utility-scale solar and energy storage projects across the United States. Founded in 2005 by Jesse Grossman, the company was established on the principle that high capital costs should not impede the adoption of solar energy. Grossman, who serves as CEO, transitioned from a career as a tropical rainforest ecologist to the energy sector, bringing a unique perspective rooted in sustainability and conservation. This background shaped Soltage's pragmatic approach of blending environmental goals with robust financial strategies to deploy renewable assets.
The company's core business involves developing, owning, and managing a portfolio of solar and storage assets, which now totals over 450 MW across more than 125 projects. Soltage serves a diverse client base that includes commercial, industrial, municipal, and utility customers. Its business model centers on Power Purchase Agreements (PPAs) and community solar programs, where it installs and owns a 'Soltage PowerStation' on-site or nearby and sells the generated power to clients at fixed, competitive rates below retail prices. This structure provides customers with reduced energy bills and protection from market volatility without requiring upfront capital investment. The company generates revenue through these long-term energy sales contracts.
A significant milestone occurred in September 2023 when Igneo Infrastructure Partners acquired a majority equity stake in the company. This acquisition is set to facilitate Soltage's transition to a full IPP model, enabling it to build out an identified 1.9 GW project pipeline and expand into new technologies and geographic markets. The company is also advancing into the energy storage sector with the construction of its first standalone battery storage project in New York. To date, Soltage has directed over $1 billion into the U.S. clean energy sector, establishing itself as a durable player in the renewable energy landscape.
Keywords: independent power producer, solar energy development, energy storage solutions, distributed generation, utility-scale solar, community solar, project finance, renewable energy assets, power purchase agreement, commercial solar, industrial solar, clean energy infrastructure, solar-plus-storage, battery storage, asset management, renewable energy investment, sustainable infrastructure, energy project operation, solar project financing, corporate sustainability