Foley Hoag Represents Soltage in Majority Equity Interest Acquisition by Igneo Infrastructure Partners
September 08, 2023
Foley Hoag LLP represented its long-time client Soltage, LLC (“Soltage”), a renewable power producer operating in 18 U.S. states, in an agreement with Igneo Infrastructure Partners (“Igneo”), a global infrastructure investment manager, for Igneo to acquire a majority equity interest in Soltage. The transaction is expected to close later this year.
In partnership with Igneo, Soltage plans to transition to a full Independent Power Producer business model and build out its 1.9GW identified pipeline of solar and storage projects. Construction is also under way on Soltage’s first standalone battery storage project in New York.
Soltage is a leader in the development, financing, and operation of distributed utility-scale solar and storage assets for utility, commercial, industrial, and municipal customers across the United States. Soltage has developed more than 500MW of solar assets and deployed over $1 billion into approximately 125 clean energy projects for utility, commercial, industrial, and municipal customers.
Foley Hoag attorneys Dan Clevenger, Mark Barnett, Erica Harrington, Earl Mellott and Nick Romanos represented Soltage in the transaction, with assistance from Terry Martland, Lexi Stacy, Courtney Suggs and other team members.
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