Igneo Infrastructure Partners, an infrastructure investment manager, has agreed to acquire a majority equity interest in Soltage LLC, a renewable power producer operating in 18 U.S. states.

Established in 2005 and based in Jersey City, N.J., Soltage develops, owns, operates and manages solar and storage assets across the U.S. The company has developed more than 500MW of solar assets and deployed over $1 billion in approximately 125 clean energy projects for utility, commercial, industrial and municipal customers. 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.

 “We look forward to leveraging Igneo’s infrastructure expertise along with its capital resources as Soltage expands as a full owner of clean energy assets,” states Jesse Grossman, Soltage co-founder and CEO.

Mayer Brown was legal counsel and Macquarie Capital was financial advisor for Igneo Infrastructure Partners. Foley Hoag and Citi served as Soltage’s legal and financial advisors.