Heliene secures $54 million investment to provide bigger US manufacturing
Heliene has obtained a $54 million investment from Transition Equity Companions to provide bigger its photo voltaic cell and module production within the United States.
Anne Fischer
From pv magazine USA
Heliene, a PV module manufacturer with facilities in Canada and the United States, has announced the closing a strategic equity investment of as a lot as $54 million from Transition Equity Companions. The investment will enhance the expansion of Heliene’s manufacturing footprint.
The strategic investment from Transition Equity Companions follows the announced $50 million in 45X production tax credit score transfer to enable the firm to diminish debt and whole the expansion of its Minnesota plant, which has a planned delivery date of Might perchance well just 2025.
“This investment from Transition Equity Companions is a key milestone in Heliene’s disclose budge,” said Heliene CEO Martin Pochtaruk. “It empowers us to provide bigger our capacity to assert high quality, bankable, domestically produced photo voltaic modules that power the incandescent power transition.”
This capital infusion will enhance the pattern of a brand new 550 MW production line in Rogers, Minn., and the arrival of 150 or more new corpulent-time jobs on the flexibility. Heliene’s “Minnesota #3” manufacturing line will enhance the firm’s whole US-essentially based completely mostly manufacturing capacity to more than 1.5GW per year.
Heliene has a whole lot of industry leading partners underpinning this expansion, including a 2 GW provide settlement with Excelsior Energy Capital and 1.5GW provide settlement with Nexamp, touted by US Secretary of Energy Jennifer M. Granholm as an investment that will well “enhance American manufacturing and produce American jobs, whereas reducing families’ power bills.”
Because the modules will essentially be assembled at a Heliene factory in Mountain Iron, Minnesota, Excelsior said that the brand new settlement “materially derisks provide of PV modules” of its projects. By procuring photo voltaic modules from a North American dealer, Excelsior can steer determined of the dangers inherent with purchasing equipment that travels a 6,000 mile-plus worldwide provide chain.
Along with, Heliene raised $170 million from Orion Infrastructure Capital (OIC) and a whole lot of different of Heliene’s key potentialities in 2023.
Heliene just no longer too long ago announced the signing of a multi-year contract with NorSun, a photo voltaic wafer manufacturer. The staunch quantity of wafers used to be no longer specified, nonetheless Heliene reported that the provision will meet its annual requirement of silicon wafers starting in 2026. Heliene, will rob supply of the wafer at its cell factory that it’s constructing with Premier Energies in Minneapolis-St. Paul, Minnesota.
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