Foley Hoag Represents Soltage in Securing $30.5M for New Solar Project Portfolio

March 22, 2013

Foley Hoag LLP congratulates its client Soltage, LLC on entering into a strategic partnership with NewWorld Capital Group and a leading institutional investor to fund the deployment of six solar power generating stations to be constructed in Connecticut and Massachusetts. The investors will commit at least $30.5 million of funding, with all projects slated to come online by the end of the year.

Soltage specializes in the development, design, ownership, finance and operation of solar power plants for large commercial customers. Since its founding, Soltage has successfully developed 10 solar power generating projects representing more than 14 megawatts (MW) of distributed generating capacity. Soltage is backed by a group of investors, including independent energy company Tenaska, ranked by Forbes as the 35th largest privately held U.S. company based on 2011 revenues, with approximately 11,000 MW of power generating assets under management.

NewWorld Capital Group will make the investment through their infrastructure investment initiative, NewWorld Environmental Infrastructure, L.P, in partnership with the CleanTech Alliance Fund, managed
by North Sky Capital of Minneapolis, Minn.

Foley Hoag attorneys Mark Barnett, Peter RosenblumNicola Lemay and Seth Kipp led the team representing Soltage in the transaction.

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