North American solar module manufacturer, Heliene Inc. announced a strategic equity investment of up to USD 54 million (EUR 49 million) to fund the development of a new 550-MW solar line in Rogers, Minnesota.
Heliene to Launch 550MW Production Line in Minnesota, Creating 150+ Jobs
This capital infusion will facilitate the establishment of a new 550MW solar line in Rogers leading to the creation of over 150 full-time jobs at the facility. Heliene’s MN #3 solar manufacturing line will enhance the company's total U.S. manufacturing capacity to approximately 1.5 GW per year. Heliene is supported by industry-leading partners in this expansion, including a 2.0 GW supply agreement with Excelsior Energy Capital and a 1.5 GW supply agreement with Nexamp.
U.S. Secretary of Energy Jennifer M. Granholm has described this investment as one that will 'boost American manufacturing and create American jobs while reducing families' energy bills.'
Heliene Secures Strategic Investment to Propel Growth in Solar Manufacturing
Growth in Solar Manufacturing- Heliene (Image- Collected)
Heliene Inc. announced the completion of a strategic equity investment of up to $54 million from Transition Equity Partners (TEP) along with a group of limited partners, including affiliates of Hamilton Lane. This investment will aid in the growth of Heliene's leading operations which have been serving the North American solar market for over 14 years, positioning Heliene as one of the longest-standing solar manufacturers in the region.
This strategic investment from TEP comes on the heels of the $170 million in capital that Heliene secured in 2023 from Orion Infrastructure Capital (OIC) and several of its key customers.
“This investment from Transition Equity Partners is a key milestone in Heliene’s growth journey. It empowers us to expand our capacity to deliver high-quality, bankable, domestically produced solar modules that power the clean energy transition. We are proud to play a pivotal role in strengthening North America’s renewable energy supply chain and contributing to the global energy transition.” said Martin Pochtaruk, CEO of Heliene.