Solar developer Soltage and the second flagship Basalt fund (Basalt II), an infrastructure equity investment fund, announced the launch of a new funding vehicle, Helios Power, which is expected to fund the construction of 200 MW of solar assets across the United States.
The launch of Helios Power follows completion of the expansion of Hyperion Power, a collaboration between Soltage, funds managed by the Basalt group and also Basalt’s first flagship fund (Basalt I), comprising a portfolio of 135 MW of distributed U.S. solar generation assets across diverse markets including California, Massachusetts, North Carolina, New Jersey, South Carolina and Georgia.
Building upon this prior partnership, Helios Power will continue distributed solar asset investment in the commercial and industrial, utility, community solar, municipal and corporate PPA markets, while also expanding the investment mandate to include solar plus storage, stand-alone storage and operating solar investment.
“We’re proud to work with the Basalt funds to continue our track record of structuring high-quality investments across the Soltage platform, while at the same time expediting the rate at which our industry can put clean power on the grid,” said Jesse Grossman, Soltage Founder and CEO. “Through the careful setup and execution of our capital vehicles, we’ve continued to streamline our process of getting the right capital into the right projects.”
News item from Soltage