Heelstone Renewable Energy has reached financial close and started construction on two solar PV projects in the United States with a combined capacity of 206MW.
The company said the 104MW Alligator Creek project in Georgia and the 102MW Murch project in Michigan are backed by long-term corporate power purchase agreements with a US hyperscale data centre developer.
Heelstone added that non-recourse project financing and tax equity commitments have been secured to fund construction and long-term operations for both assets.
Construction follows final investment decision and EPC agreements with Pure Power Contractors for Alligator Creek and Greensol Renewables for Murch.
Commercial operation of both projects is expected by the end of 2026.
Financial close for Alligator Creek was achieved in December 2025, while Murch reached financial close in March 2026.
“Reaching FID and commencing construction on these projects demonstrates the strong execution capabilities of the Heelstone team and the continued momentum of the platform,” said Alejandro Ciruelos, partner, US at Qualitas Energy.
“This milestone accelerates Heelstone’s transition into a fully integrated independent power producer (IPP), strengthening its ability to deliver a growing portfolio of renewable energy projects across the United States.”
“Backed by long-term PPAs and fully structured project financing, these projects reflect our ability to originate, finance and build high-quality utility-scale renewable assets,” said Mike Weich, chief executive of Heelstone Renewable Energy.
“The start of construction on Alligator Creek and Murch marks another important step in scaling our platform across key U.S. markets.”