Solar

Tenaska & Soltage Invest in New PV Development

Tenaska Solar LLC announced that it has made an equity investment in Soltage, LLC to expand the development and use of solar-generated electricity. Soltage, is a privately-held full service renewable energy company based in Jersey City, New Jersey. The company develops, finances, installs, owns and operates solar electricity generating stations which provide electricity to businesses nationwide.

Tenaska Solar, based in Omaha, Nebraska, is a privately-held energy company owned by employees of Tenaska Energy Inc. Soltage’s photovoltaic solar system, Soltage Powerstations, is installed on the rooftops and property of customers who pay a fixed, discounted rate to Soltage under a long-term agreement. Any electricity that exceeds the customer’s needs is sold back to the local utility, which applies a credit to the customer’s bill. Soltage also operates and maintains the Powerstation.

According to Jesse Grossman, Soltage’s chief executive officer, the company will benefit from Tenaska’s diversified energy experience. Financial terms of the investment were not released.