Soltage, an independent utility-scale solar and energy storage power producer, closed a $525 million tax credit investment agreement.
The financing will provide the company with stable, long-term capital to continue developing, constructing, and operating its over 2 GW of solar and battery energy storage projects. The financing includes the purchase of investment tax credits over a two-year period.
Specifically, the investment is expected to fund the next 260 MW of Soltage’s energy project deployment. The agreement also includes a commitment from a Fortune 500 company to purchase tax credits generated through the partnership through 2026.
“We are pleased to announce this investment vehicle, accelerating our ability to deliver mission-critical generation resources to our customers across the U.S.,” said Mihir Mehta, Chief Investment Officer of Soltage. “This transaction supports the continued growth of domestic clean energy infrastructure and helps create high-quality local employment opportunities.”
This transaction follows Soltage’s $260 million debt raised in June 2025 to support the near-term deployment of solar and storage projects from the company’s more than 2 GW development pipeline across the U.S. The financing package comprises a revolving construction loan, a tax equity bridge loan, and a term loan facility, offering Soltage flexible capital to continue developing, building, and operating its growing portfolio of clean energy infrastructure assets.
Previously, in September 2023, Igneo Infrastructure Partners, a global infrastructure investment manager, agreed to acquire a majority equity interest in Soltage.
According to Mercom’s 1H and Q2 2025 Solar Funding and M&A report, large-scale project funding increased by 65% in the first half of 2025 compared to the same period in 2024.
In September, Nexamp, a developer of solar and battery storage projects, secured $350 million in financing from Macquarie Asset Management to support the construction of its utility-scale solar and battery storage projects.
