Natural Power, a renewable energy consultancy at the forefront of the energy transition, has provided technical due diligence support to Igneo, a global infrastructure investment manager, on its agreement to acquire a majority equity interest in Soltage, LLC (‘Soltage’), a renewable power producer that develops, owns, operates and manages solar and storage assets across the U.S. The transaction is expected to close later this year.
In partnership with Igneo, Soltage plans to transition to a full Independent Power Producer (IPP) 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.
Jim Adams, President of North America Operations at Natural Power, said: “It is great to see more global investment into the U.S.’s renewable energy future. Natural Power is proud to have supported Igneo in this agreement. We look forward to providing future support on these types of transitions from global players, as interest in the U.S market increases.”
John DiMarco, managing director at Igneo, said: “Igneo is committed to partnering with management teams to create a more sustainable future, and we’re pleased to expand our U.S. footprint with our investment in Soltage.”
From its three US offices in New York, Seattle and the Denver area, the Natural Power team supports a range of clients including institutional investors and banks, developers, asset owners, power producers and utilities, as well as government organizations, delivering services throughout the region and beyond. To date, Natural Power’s U.S. team has delivered technical advisory services on more than 100GW of renewable energy projects.