Heelstone Renewable Energy closes tax equity financing for 320MW projects

Facebook
Twitter
LinkedIn
Reddit
Email
Advantage Capital is the tax equity syndicator for four projects. Image: Unsplash.

Solar developer Heelstone Renewable Energy has closed a tax equity investment for four solar projects in Georgia, the US, with a cumulative capacity of 320MWdc.

Investment firm Advantage Capital acted as the tax equity syndicator for the utility-scale solar projects in Georgia which are expected to be operational in late 2023/early 2024.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

“This tax equity investment marks a significant milestone for these Georgia projects as we continue our unwavering commitment to transforming the energy landscape through solar power,” said Justin Gravatt, CEO of Heelstone Renewable Energy.

The company added that the tax equity could help it monetise federal tax incentives, such as the investment tax credit.

Tom Bitting, principal of Advantage Capital, commented: “We are pleased to have partnered with Heelstone and invested in renewable energy projects that will not only generate clean power, but also drive positive environmental and social change.”

Heelstone Renewable Energy previously closed a US$175 million credit facility with investment company BlackRock, which provided the company with additional capital to develop and construct its utility-scale solar and battery storage projects of over 11GW across the US.

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.

Read Next

July 1, 2024
A Lawrence Berkeley National Lab report has quantified the improving value of solar and wind power in the US.
May 22, 2024
US utility-scale service provider Cleanleaf Energy has signed 350MW of operations and maintenance (O&M) services in the US.
April 30, 2024
US independent power producer (IPP) Enfinity Global has secured a US$195 million long-term financing for a 70MW solar PV plant in Japan.
April 23, 2024
Spanish developer Matrix Renewables has secured €179 million (US$191 million) in financing for a 239MW Spanish solar PV portfolio.
April 18, 2024
Spanish renewables developer Ecoener has secured US$64 million in green bond financing for a 74MW solar PV plant in Guatemala.
April 17, 2024
US solar developer Origis Energy has secured a US$136 million construction financing facility and conversion to term loan with financial group Mitsubishi UFJ Financial Group (MUFG) for a PV plant in Florida, US.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA
Solar Media Events
October 15, 2024
Santiago, Chile