Heelstone Energy

Richard Wright, Director of Operations

Project Type
Ground Mount Solar

Heelstone Energy is a leading independent power producer and solar developer with expertise in developing, financing, constructing, operating and maintaining solar PV projects. They have proven capabilities to source, finance, build and operate high-quality solar assets, having developed and constructed projects with generating capacity in excess of 275 MWdc. Despite their success, it can be difficult for fast-growing solar developers like Heelstone to find lenders who understand the long-term nature of the asset class. Heelstone was looking for a lender that would be able to work well with their tax equity structure and provide maximum leverage. Getting that maximum leverage was dependent upon getting a long loan term that went out 10 years beyond the term of the PPA. They used the money to build the project without tying up too much of their limited developer equity, so that they could spread their equity out across more projects, grow faster, and complete more solar projects!

veterinary practice construction
ground mount solar project financing

Heelstone’s experience working with us was strong because we really knew the asset class which means we can move quickly to evaluate projects and get creative on loan structuring and terms. That experience and the established partnership gives Heelstone the confidence to enter new geographic markets for solar, such as Oregon. Live Oak understands the industry and our expertise helps us underwrite revenue assumptions even after the initial PPA contract ends. Our commitment to supporting clean energy solutions means we are constantly improving how we lend to new offtake structures as the industry evolves.

Connect with a loan specialist today to create your success story.

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