Heliene to supply approximately 250MW of US-made modules to C&I solar programmer Altus Power

Feb 3, 2022 09:22 AM ET
  • Canada-headquartered solar supplier Heliene will provide approximately 250MW of its modules to commercial as well as industrial (C&I) PV developer Altus Power as part of a brand-new critical partnership in between the companies.

Including mono PERC cells, Heliene's modules will be generated at the company's Minnesota production facility, which has actually just recently been broadened with a new 400MW assembly line.

Against a backdrop of supply chain bottlenecks as well as trade volatility, Connecticut-based Altus Power said the three-year arrangement will allow it to proceed providing solar projects across the US.

"Domestic-made tools as well as materials are becoming an increasingly essential component of our purchase efforts and this supply assurance will be significant to our overall module needs," said Tony Savino, founder and also primary building and construction officer of Altus Power.

Altus Power has likewise committed to spend up to US$ 5 million in Heliene as part of the maker's anticipated initial public capital raise in connection with its proposed reverse takeover purchase with capital pool business Buzz Capital 2 and also noting on Canada's TSX Venture Exchange.

Altus itself began providing on the New York Stock Exchange in December complying with a merger previously in the year with a special purpose purchase firm that valued the solar designer at US$ 1.58 billion.

With 3 producing centers-- in Ontario, Minnesota and a new plant in Florida-- Heliene's overall manufacturing capacity is expected to reach 900MW by Q3 2022.

Heliene chief executive officer Martin Pochtaruk stated the firm has actually been buoyed by the Biden administration's initiatives to speed up solar implementation in the US.

Various other United States module production announcements in recent months have seen heterojunction cell and module manufacturer Meyer Burger introduce plans for a 400MW plant in Arizona, while NanoPV is looking to invest more than US$ 36 million on a center in Georgia.

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