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Independent power producer Soltage closes on $525M financing for storage and solar projects

ROI-NJ · last updated

Soltage, an independent power producer specializing in the development, financing, and operation of distributed utility-scale solar and energy storage assets, recently said it closed on a $525 million tax credit investment agreement.

This financing vehicle includes the purchase of investment tax credits over two years, providing Soltage with long-term capital to continue the development, construction, and operation of its 2+ GW pipeline of photovoltaic and battery energy storage projects.

This transaction is expected to fund the next 260 MWs of Soltage’s energy asset deployment. The agreement also includes a commitment from an unnamed Fortune 500 company to buy tax credits generated through the partnership through 2026.

“This transaction supports the continued growth of domestic clean energy infrastructure and helps create high-quality local employment opportunities,” said Mihir Mehta, chief investment officer of Soltage.

Following Soltage’s $260 million debt raise in June 2025, this transaction further bolsters the company’s position as a leader in U.S. energy development.

Soltage develops, owns, and operates distributed utility-scale solar and energy storage assets across the United States.

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