New York-based private equity firm Barron Partners LP has launched Soltas Energy Corp., an initiative designed to consolidate Barron Partners' existing regional solar developers.
According to the company, Soltas Energy creates a national vehicle for financing solar projects and allows Barron Partners to take ownership positions in prominent regional solar project development and installation companies. Andrew Barron Worden, founder and CEO of Barron Partners, is leading the initiative.
Through its subsidiary companies, Soltas operates as a solar power provider where customers pay for the power they use through solar power purchase agreements.
Soltas enters the solar space with majority stakes in Choice Solar Solutions Inc. of Nashville, Tenn.; Sunergy America of Wall, N.J.; and Aegis Solar Energy Inc. of Branford, Conn. Soltas Energy says it has extensive national-project financing capabilities and is currently considering companies located in additional regional markets, such as the Southwest, to add to its team of solar companies in the near future.