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December 17.2025
2 Minutes Read

Soltage Secures $80 Million Revolver to Boost Solar Innovations in NJ

Expansive solar field amidst forest, Soltage secures $80 million revolver.

Soltage Secures Major Financing to Bolster Solar and Storage Initiatives

On December 16, 2025, Soltage, a prominent power producer based in Jersey City, announced the successful closure of an $80 million syndicated development revolver facility. This significant financing effort aims to accelerate the company's deployment of solar and energy storage projects across the United States.

Led by First Citizens Bank and EastWest Bank, this multi-year facility marks a turning point for Soltage as its first major pre-notice-to-proceed (pre-NTP) financing vehicle. “This financing milestone represents a strong addition to Soltage’s financial resources and underscores the confidence our banking partners have in our business model,” stated Chaim Grushko, Senior Vice President at Soltage, highlighting the support from these banking institutions as vital to the company's continued growth.

How Soltage Plans to Utilize the New Funding

The new revolver will primarily fund development-stage expenditures, such as interconnection deposits and equipment procurement, essential for bringing solar projects to fruition. With over 125 completed clean energy projects, totaling more than 500 megawatts of distributed generation capacity, Soltage is keen to expand this number rapidly. The facility will enable the company to operate with more agility, deploying capital across its diverse growth pipeline effectively.

The Impact on Local Communities in Northern NJ

For localities in Northern NJ, such as Sussex County and towns like Andover and Sparta, this financing could lead to greater access to clean energy solutions. By ramping up solar and storage initiatives, Soltage’s projects promise more reliable and affordable energy options for communities that depend on the grid. This is crucial given the increasing demand for sustainable energy sources amidst rising climate concerns.

Looking Ahead: The Future of Clean Energy in New Jersey

As Soltage prepares to deploy this significant capital, the implications for the future of clean energy in New Jersey are profound. Investors, community leaders, and environmental advocates alike will be watching how these initiatives unfold. This move not only reinforces Soltage’s position as a leader in renewable energy but also highlights the growing importance of collaborative financial strategies in pioneering clean energy projects.

Conclusion: What This Means for the Energy Landscape

The closure of this $80 million revolver is not just a win for Soltage; it represents a larger commitment to a sustainable energy future in Northern NJ and beyond. As the energy landscape continues to evolve with innovative financing and sustainable technologies, local communities can expect enhanced infrastructure and energy solutions tailored for today’s needs.

Stay informed and engaged with the latest developments in local energy initiatives, as they can make a significant impact on your community’s well-being and sustainability efforts.

Entrepreneur Edge

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01.16.2026

Meet Jersey City’s New Leadership Team: Committed to Community and Change

Update The Future of Jersey City: A Leadership Team Built for Change Jersey City has a new mayor, James Solomon, and with him comes a fresh team of dedicated individuals ready to tackle the pressing issues facing the community. Just sworn in on January 15, 2026, Mayor Solomon is committing to substantial changes with an office that echoes the pulse of the city and promises to prioritize its residents. "From day one, this administration will be focused on delivering results for the people of Jersey City," Solomon stated with determination. Meet the Team: Diverse Backgrounds and Shared Goals At the helm of this administration is Chief of Staff Laura Bustamante, whose ethos is clear: it's about action, not titles. Bustamante emphasizes accessibility and dedication as she leads the team toward a more affordable Jersey City. Each appointed member brings a wealth of experience and local insight, critical for fostering community-focused governance. Among the leadership team is Isaac Smith, a passionate advocate for local resident welfare. As Senior Policy Advisor, Smith will leverage his history of community engagement to push for legislation that directly impacts residents' lives—particularly the affordability crisis that resonates with him personally. "The affordability crisis isn’t abstract to me; it’s my neighbors, my family, my community," he insists. Strategic Partnerships for Greater Impact Another key figure, Stu Thomas, serves as Senior Advisor for Inter-Governmental Affairs. His role revolves around cultivating relationships with various levels of government, a crucial task for ensuring that the mayor’s agenda translates into meaningful action. "Jersey City is strongest when working across partners at the local, county, and state levels," he explains, outlining his commitment to collaborative efforts that lead to real wins for residents. Organizational Efficiency: A Top Priority Kaitlyn Gavin, Director of Operations Scheduling, will focus on keeping the administration organized and accountable. Gavin, who played a pivotal role in Solomon's campaign, is eager to bring the same energy to her new responsibilities. "This administration made big promises to Jersey City, and we will ensure we’re efficient every single day to keep them," she stated firmly. Making Community Connections Michelle Pérez, as Aide to the Mayor and Special Projects Manager, emphasizes the importance of connecting with the community through effective project coordination. With previous experience in high-level government roles, Pérez aims to implement initiatives that not only meet governmental standards but are also tailored to the unique needs of Jersey City’s residents. Conclusion: A Commitment to Jersey City Residents The leadership assembled under Mayor James Solomon is a testament to the voters' desire for change. Each team member's dedication to their hometown is palpable and creates a narrative of hope and renewal for Jersey City. As they begin this journey, their collective experiences will be pivotal in shaping a future that is not only prosperous but inclusive for all community members. As Jersey City residents, embracing this new administration provides a chance to engage with local government and advocate for what truly matters—ensuring that the voices of all, including those from Sussex County, Andover Township, and beyond, are heard and valued. Together, we can support our community leaders in their quest to turn promises into action.

01.15.2026

Patrick Dunican's Transition: A Leap Forward for Connell Foley LLP

Update A Strategic Move for Connell Foley LLP In a significant transition in the legal landscape, Connell Foley LLP has welcomed Patrick C. Dunican Jr. as a partner in its corporate practice group. Dunican's rich experience as a former managing director and executive chairperson at Gibbons P.C. brings a wealth of knowledge and insight to Connell Foley. At Connell Foley, he will focus on law firm consulting, expert opinion, and risk management, positioning the firm to tackle today’s most complex legal challenges. Dunican's Impressive Legacy Dunican’s reputation as a "lawyer’s lawyer" stems from his 18 years at Gibbons, where he not only shaped the strategic vision but also navigated the firm through various economic cycles. His commitment to improving firm culture and client services has earned him recognition in prestigious legal circles, including listings in Best Lawyers in America and Super Lawyers. Contributions to Higher Education Beyond his corporate law expertise, Dunican’s contributions extend to higher education governance. As a former chair of Iona University’s Board of Legal Trustees, he played a vital role in its transition to university status, emphasizing his commitment to educational excellence. His involvement also includes a lengthy tenure on Seton Hall Law School’s Board of Visitors, further highlighting his dedication to nurturing future legal professionals. Growth and Collaboration The addition of Dunican to Connell Foley occurs during a pivotal time, coinciding with the firm’s strategic growth plans. Dunican states, “Connell Foley’s dedication to client service and its collaborative culture are closely aligned with my professional values, establishing an effective partnership for both existing and prospective clients.” His insights are poised to enhance Connell Foley’s capabilities, reinforcing its standing as a go-to firm for diverse legal services in Northern NJ. An Invitation to Engage As Connell Foley embraces this new chapter with Dunican's addition, stakeholders in Sussex County NJ and surrounding areas should stay tuned. Dunican’s comprehensive approach to managing complex legal challenges can significantly impact local businesses and legal entities, making it essential for community members to stay informed about developments in their local legal sector.

01.14.2026

Valley Health System’s New Chief Academic Officer: A Transformative Step for Medical Education

Update Valley Health System Welcomes New Chief Academic Officer Exciting changes are afoot in the Valley Health System as Reham Shaaban, DO, steps into the role of Chief Academic Officer. This pivotal appointment was made official on January 13, 2026, marking a significant milestone for the organization as it expands its medical education and research missions. A New Era in Medical Education Dr. Shaaban's role will involve overseeing the Valley’s Office of Academic Affairs, a growing department that includes several ACGME-accredited medical education programs provided in partnership with the Icahn School of Medicine at Mount Sinai. These programs range from residency training in internal medicine to obstetrics and gynecology, embodying a vision to redefine the region's healthcare landscape. Commitment to Excellence in Healthcare Under Shaaban’s leadership, Valley Health System aims to bolster its medical education framework, promoting faculty development, scholarships, and research initiatives. Robert Brenner, president and CEO of Valley Health System, emphasized that Shaaban’s extensive experience in academic medicine aims to integrate educational excellence into patient care, establishing a robust healthcare environment. Milestones and Achievements Dr. Shaaban joins Valley with over 17 years in leadership roles within academic medicine. Since her arrival in 2022, she has been instrumental in transforming Valley into an emerging academic center, indicating a long-term strategy for growth in teaching and research capabilities. Her accolades include prestigious awards from the Society of General Internal Medicine and American Medical Association, showcasing her impact on the medical education community. Future Collaborations and Initiatives Dr. Shaaban’s appointment reflects Valley's ongoing commitment to advancing its academic mission. She is excited about the possibilities of mentoring and supporting faculty while enhancing research that aligns with clinical priorities. With her leadership, Valley Health System is set to achieve important strides toward a future that prioritizes quality care, safety, and educational advancement. Bringing Innovation to the Community Jennifer, a local health advocate from Sussex County, NJ, expressed her enthusiasm, stating how such initiatives could inspire young people in the community to pursue careers in medicine. Programs like those led by Dr. Shaaban will not only enrich Valley Health System but are also vital for community resilience. As Valley Health System embarks on this new chapter, Dr. Shaaban’s leadership promises an exciting future for medical education and patient care, reinforcing the institution’s long-standing commitment to the health and vitality of the Northern NJ community.

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