North American solar module manufacturer Heliene Inc. has secured a strategic equity investment of up to $54 million to bolster its domestic production capabilities. The funding, led by Transition Equity Partners (TEP) with participation from affiliates of Hamilton Lane, is earmarked for the construction of a new 550-megawatt solar production line in Rogers, Minnesota.
This new facility, dubbed MN #3, represents a significant step in strengthening the U.S. renewable energy supply chain. The project is expected to create over 150 full-time jobs and is slated to begin operations in May 2025. Once online, the 550-MW line will increase Heliene’s total U.S. manufacturing capacity to approximately 1.5 GW annually—enough new capacity to power an estimated 95,000 homes.
The expansion is underpinned by major supply agreements, including a 2.0 GW deal with Excelsior Energy Capital and a 1.5 GW commitment from Nexamp. Commenting on the development, U.S. Secretary of Energy Jennifer M. Granholm stated it will “boost American manufacturing and create American jobs while reducing families’ energy bills.” As one of the longest-operating solar manufacturers in North America, with over 14 years in the market, this move solidifies Heliene’s industry leadership.
“This investment from Transition Equity Partners is a key milestone in Heliene’s growth journey,” said Martin Pochtaruk, CEO of Heliene. “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.” This funding follows a previous $170 million capital infusion Heliene secured in 2023 from Orion Infrastructure Capital (OIC) and other key customers.
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News Sources: Heliene Inc. Gets $54M for 550-MW Solar Line in Minnesota
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