Jersey City-Based Soltage LLC announced today a 3.5 MW solar power plant in Mass. will be the seventh investment in the company by NewWorld Environmental Infrastructure L.P., of New York. Investment terms were not disclosed.
According to the announcement, the power station is expected to generate more than 4 million kilowatt-hours of electricity annually for a consortium of four municipalities located in central Massachusetts. Power will be purchased under agreement for at least 20 years.
NewWorld Environmental Infrastructure partnered on the investment with CleanTech Alliance Fund, managed by North Sky Capital of Minneapolis, Minn. Soltage is backed by a group of investors, including Tenaska, one of America's largest independent energy companies, with approximately 11,000 MW of power generating assets under management, the company said in a statement.
NewWorld first announced its investment in Soltage in March.