John Hancock Life Insurance Co., a unit of Toronto-based Manulife Financial Corp., will lead a $40 million equity financing for six Soltage-Greenwood solar projects to be built in the U.S. Northeast.
The 13 megawatts of projects will be built in Delaware, Massachusetts, New York and Vermont by mid-year, the joint venture between the Libra Group’s Greenwood Energy and solar-power provider Soltage LLC said today in a statement.
The Jersey City, New Jersey-based venture is looking to fund additional projects in 2014, Frederic LeCao, a vice president at Greenwood Energy, said in an e-mail today. Soltage-Greenwood is considering potential projects across the Northeast and Mid-Atlantic US regions, he said.
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