Heliene raises US$170 million in debt and equity financing to fuel growth plans
Heliene, a fast-growing Sault Ste. Marie solar panel manufacturer, has secured a US$170-million financing package to key its factory expansions in Minnesota and its Canadian home base.
Incentivized by the U.S. Inflation Reduction Act, Heliene CEO Martin Pochtaruk spoke at length with Northern Ontario Business last month on its prolific growth plans that's boosted production capacity at Mountain Iron, has sparked upcoming expansion into the Minneapolis-St. Paul area, and is leading to upgrades and expansion at its Sault facility this fall.
The company said this deal with Nexamp represents the “largest community solar module order in U.S. history” in supporting the development of 400 new community solar projects to a more than a quarter of a million households.
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