Soltage, Basalt completes acquisition of a 40 MW solar portfolio in Oregon

Soltage LLC, in partnership with the fund managed by Basalt, has completed the acquisition of a 40 MW solar photovoltaic portfolio located in Oregon from NewSun Energy. 

This acquisition anchors a US$100 million portfolio investment in the Oregon market and is being funded via Helios, an investment vehicle set up by Soltage and Basalt to own and operate solar power projects across the U.S. Hyperion, the first vehicle was fully deployed in 2019 and currently owns and operates 125 MW across 35 solar facilities.

The first asset energized in this portfolio is a 10 MW solar facility located in Harney County, Oregon. This facility will transmit electricity via Bonneville Power Administration's (BPA) transmission system to Portland General Electric (PGE). PGE is purchasing power under a 16-year power purchase agreement, which will help the utility provide renewable power to its nearly one million customers.

The portfolio also includes projects in development in both Harney and Lake County, Oregon. These projects have directed significant investment into these counties and have leveraged local and regional contractors, employees and consultants for development and construction. These projects are expected to continue to provide substantial county tax revenues to rural Central and Eastern Oregon over the lifespan of the assets.