Welcome!

News Feed Item

Soltage-Greenwood announces John Hancock as lead in equity financing of solar power assets

NEW YORK, Jan. 16, 2014 /PRNewswire/ -- Soltage-Greenwood, a joint venture between the North American clean energy division of the Libra Group and premier North American solar power provider Soltage, LLC, today announced that John Hancock Life Insurance Company (U.S.A.) will lead equity financing for the construction and operation of multiple solar power stations across the United States. A consortium of investors led by John Hancock and Libra Group will provide an initial equity funding of $40 million.

A first portfolio comprising six solar projects located in Delaware, Massachusetts, New York and Vermont is expected to be online by mid-year. Once commissioned, electricity will be sold exclusively through long-term agreements with a mix of top tier corporate customers, municipalities and utilities.

"We are very excited to have a company of John Hancock's caliber supporting our current and future solar projects," said Camilo Patrignani, Head of Americas for the Libra Group. "We believe we are well positioned to quickly and efficiently capitalize on the growing demand for distributed clean energy well into the future."

"This portfolio benefits from both the favorable solar markets that are solidifying up and down the Eastern seaboard, as well as our forward-thinking power customers – who are partnering with us to lock in dependable energy pricing over the next 10 to 20 years," said Jesse Grossman, Soltage co-founder & CEO. "We are proud to be adding these top quality generating assets to the fast-growing U.S. solar base and look forward to leveraging our expertise in their long-term management."

"We are pleased to execute this transaction with Soltage-Greenwood," said Recep C. Kendircioglu, CFA, Managing Director on John Hancock's Power & Infrastructure Group.  "We look forward to growing this relationship into a larger platform that continues to invest in clean, reliable sources of energy."

Soltage-Greenwood, a joint venture formed in 2013, is focused on the development, financing and operation of solar power plants for commercial-scale customers. The joint venture combines Greenwood Energy, the North American renewable division of the Libra Group - an international business group with diversified holdings across five continents with Soltage, LLC, a leader in U.S. solar development backed by a group of investors including Tenaska, one of America's largest independent energy companies with approximately 13,000 megawatts of power generating assets under management.

For more information
Greenwood Energy, Frederic LeCao, tel (212) 401.9372, [email protected], or
Soltage, LLC, Nick Sangermano, tel (646) 415.4643, [email protected].

About Libra Group
The Libra Group (www.libra.com), a privately owned international business group comprising 30 subsidiaries operating across five continents.  The Libra Group is predominantly focused on five core sectors: shipping, aviation, real estate, hospitality and energy. Greenwood Energy (www.gwenergy.com) is the North American clean energy division of Libra. In addition to Greenwood's fuel cell ownership and biofuel manufacturing interests in the U.S., Libra Group companies own and operate solar, wind and biogas facilities in the Mediterranean region and Northern Europe.

About Soltage
Soltage is a leader in the development, financing and operation of solar power stations for commercial, industrial and municipal clients. Since its founding, Soltage has successfully developed 23 solar power projects totaling more than 40 megawatts (MW) of distributed generating capacity. Soltage is backed by a group of investors, including Tenaska, one of America's largest independent energy companies with approximately 13,000 megawatts of power generating assets under management. Soltage is headquartered in Jersey City, N.J. www.soltage.com

About John Hancock Financial and Manulife Financial
John Hancock Financial is a division of Manulife Financial, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife Financial in Canada and Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were C$575billion (US$559 billion) as at September 30, 2013. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at manulife.com.

The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, fixed products, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.

SOURCE Soltage-Greenwood

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
If you had a chance to enter on the ground level of the largest e-commerce market in the world – would you? China is the world’s most populated country with the second largest economy and the world’s fastest growing market. It is estimated that by 2018 the Chinese market will be reaching over $30 billion in gaming revenue alone. Admittedly for a foreign company, doing business in China can be challenging. Often changing laws, administrative regulations and the often inscrutable Chinese Interne...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.