Renewable energy company Soltage and Basalt Infrastructure Partners have closed an investment in a nine-project, 57MW solar portfolio in North Carolina.
The deal is the second portfolio investment announced under a $140m equity capital partnership between Soltage and Basalt launched last year.
Construction on the current portfolio is expected to start this month.
The projects will range in size from 3MW to 7MW, with Duke Energy and Dominion Energy among the companies buying electricity generated by the solar farms.
Soltage will act as the power plant operator selling the electricity to the utilities, while Cypress Creek Renewables is providing engineering, procurement and construction services for all nine projects.
Soltage and Basalt acquired the projects from Cypress Creek Renewables.