Heelstone Renewable Energy has closed a $200 million senior secured corporate credit facility to support its growing US portfolio of solar, wind and battery storage projects.
The company said the facility, led by Deutsche Bank, will accelerate its transition into a fully integrated independent power producer under Qualitas Energy’s stewardship.
According to Heelstone, the proceeds will provide letters of credit for project-related purposes including interconnection deposits, power purchase agreements, project financings and major equipment purchases.
The facility also establishes a revolving credit sublimit for working capital, advanced equipment purchases and other corporate needs.
Heelstone said its de-risked portfolio exceeds 5GW across the US and it is targeting more than 1GWac of tax credit-qualifying projects by the end of 2028.
Mike Weich (pictured), chief executive of Heelstone, said the facility marks a significant milestone and equips the business with financial flexibility to accelerate renewable infrastructure buildout.
Alejandro Ciruelos, partner – USA at Qualitas Energy, added that the financing underscores the strength of the Heelstone platform and supports the delivery of next-generation clean energy projects.
Jeremy Eisman, head of infrastructure and energy financing at Deutsche Bank, stated that the lender tailored a bespoke solution to help Heelstone execute its development goals.