Connect with us

Hi, what are you looking for?

CleanTechnica
In order to grow its solar power capacity, leading energy company Tenaska has bought a controlling interest in solar company Soltage.

Clean Power

Major US Power Company Tenaska Invests In Solar

In order to grow its solar power capacity, leading energy company Tenaska has bought a controlling interest in solar company Soltage.

Leading energy company Tenaska is investing in solar power projects with about 125 megawatts of total capacity. They should be completed sometime in 2016. Tenaska is actually investing in the solar power company that will develop the projects, Soltage, and will take controlling interest in the renewable energy company.

soltage

By investing in the company, Soltage’s growth will be supported, and Tenaska has its own channel for solar power development.

“This funding is both a transformative achievement for Soltage and further evidence solar power is a smart investment for forward-looking utilities and customers alike. We continue to be thrilled to have such an established and highly respected investor as Tenaska working with us as we help to realize our nation’s renewable energy capacity,” explained Jesse Grossman, Soltage’s CEO.

In 2008, Tenasaka made an investment in New Jersey-based Soltage, so they have been on business terms for some time. Seven years is a fairly long time, considering how many changes have taken place in the solar power industry. Hopefully, the fact that they know each other well is an indication they will thrive together.

Soltage installed 60 MW of solar power in 2014, which was a big surge compared with previous projects.

Tenaska has 11,000 MW of power management assets, including 280 MW of utility-scale PV solar that is operational or under construction in California’s Imperial Valley. In 2013, the large company had $9.5 billion in gross operating revenues.

It has been ranked no.1 in the U.S. for natural gas pipeline capacity. It also specializes in natural gas plants that generate electricity. Liquified natural gas is another area where Tenaska focuses. This is all to say that fossil fuels are its chief concern, so the fact it is investing in a solar power company is big news.

Soltage was founded in 2006, and appears poised for stable growth.

Image Credit: Soltage

 

Advertisement
 
Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

Hello, I have been writing online for some time, and enjoy the outdoors. If you like, you can follow me on Twitter: https://twitter.com/JakeRsol

Comments

#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.

 

Support our work today!

Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports

Advertisement

Advertisement

Advertisement

Tesla News

EV Reviews

Home Efficiency

You May Also Like

Clean Power

The Energy Department is determined to revive a 500-megawatt offshore wind energy project in Maine that appeared all but dead last year.

Clean Power

The average solar PV cost for new projects in America has fallen more than 50% in the past five years, according to a new...

Buildings

Originally published on Solar Love. A report from the Analysis Group claims the cap & trade program called the Regional Greenhouse Gas Initiative (RGGI)...

Clean Power

Solar shingles are rapidly becoming a viable rooftop renewable energy option for consumers, and their availability is expanding. They are not as cheap as...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.