North American solar module manufacturer Heliene Inc. has announced a strategic equity investment of up to $54 million (EUR 49 million) that will fund a new 550-MW solar production line in Rogers, Minnesota.
Heliene to Launch 550MW Production Line in Minnesota, Creating 150+ Jobs
This capital infusion will support the new 550 MW solar line in Rogers, expected to create over 150 full-time jobs. Known as MN #3, the line will boost Heliene’s total U.S. manufacturing capacity to approximately 1.5 GW per year. The expansion is also backed by industry-leading partners, 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 praised the investment, stating it will ‘boost American manufacturing and create American jobs while reducing families’ energy bills.’
Heliene Secures Strategic Investment to Propel Growth in Solar Manufacturing
The strategic equity investment of up to $54 million comes from Transition Equity Partners (TEP) and a group of limited partners, including affiliates of Hamilton Lane. This funding will help scale operations for Heliene, which has served the North American solar market for over 14 years and stands as one of the longest-operating solar manufacturers in the region.
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This investment from TEP follows 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.