Richard Wright, Director of Operations
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!