A Supercharged Funding Vehicle to Drive Up Solar Power Generation

A Supercharged Funding Vehicle to Drive Up Solar Power Generation

Energy CIO Insights | Friday, August 09, 2019

Expansion creating a pathway with funds of 135 MW under Hyperion Power, to accelerate the growth of solar as a dependable source of renewable energy.  

FREMONT, CA: In 2018, the global consumption of the conventional non-renewable resources quadrupled the growth in renewables as a result of which, the global carbon dioxide emissions recorded set a new all-time high. The world’s leading producer of nuclear power is the U.S by generating 850 TWh of nuclear power in 2018. This quantity makes up 31.4 percent of the total nuclear power generated worldwide.

The time has come to recognize the laceration caused on the environment by conventional energy sources. Hence, many enterprises have taken steps to completely rid the energy production process from impinging sources, especially like fossil fuels. Firms like the independent power produced Soltage LLC have obtained new funding vehicle, Helios Power to construct over 200 megawatts of solar assets across the country. The funding vehicle is provided by the second flagship basalt fund, an infrastructure equity investment fund which has focused mainly on re-inventing the energy scene in the country.

The launch of Helios Power is said to follow completion of the expansion of Hyperion Power, a collaboration between Soltage and funds handled by the Basalt group, the portfolio of the Basalt 1 comprises 135MW of distributed U.S. solar generation assets across the states of California, Massachusetts, New Jersey, North Carolina, South Carolina, and Georgia.

With the foundation of the partnership established in the prior deals, Helios power will continue to fund distributed solar asset investment in commercial and industrial, solar, municipal, utility, community, and stand-alone corporate storage and operating solar investment.

As a means of remediation, the U.S. economy place capital into valuable clean energy infrastructure assets. The Solar Energy Industry Association (SEIA) and Wood Mackenzie Power & Renewables project has laid out the blueprint for the next five years wherein the PV capacity in the U.S. will double with annual installations reaching 16.4 GWdc in 2021. Simultaneously, focusing on the reduction of emission and fossil fuel adoption in the process of energy generation. 

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