Heelstone Secures 320MW US Solar Funding

• Heelstone Renewable Energy LLC closes tax equity investment with Advantage Capital to fund four utility-scale solar projects with a combined capacity of 320 MW DC in Georgia, expected to power over 55,000 homes annually in late 2023 or early 2024.

Solar developer Heelstone Renewable Energy LLC has secured funds for the realisation of four utility-scale solar projects with a combined capacity of 320 MW DC in Georgia. The Chapel Hill, North Carolina-based firm has closed a tax equity investment with Advantage Capital to monetise federal tax incentives. The four projects are Bird Dog Solar, Blackwater Solar, Hobnail Solar and Wolfskin Solar, which are expected to be commissioned in late 2023 or early 2024. Heelstone had previously secured USD 357 million (EUR 318.5m) in debt financing for 345 MW DC of solar projects. Together, the projects will produce enough electricity to power over 55,000 homes annually.

How Much Funding Has Heelstone Renewable Energy Secured for Solar Projects?

• Heelstone Renewable Energy has secured a total of USD 757 million (EUR 668.5m) for the development of its four solar projects in Georgia.
• This amount includes a USD 357 million (EUR 318.5m) debt financing and a USD 400 million (EUR 350m) tax equity investment.
• The four projects have a combined capacity of 320 megawatts (MW) DC, which is enough to power over 55,000 homes annually.
• The projects are expected to be commissioned in late 2023 or early 2024.
• All of the projects are eligible for the federal tax incentives, including the Investment Tax Credit.