Heelstone closes $175 million credit facility for utility-scale solar

By Wendy Van Sickle

Columbus, Ohio, Feb. 28 – Heelstone Renewable Energy, LLC closed on a $175 million credit facility with BlackRock Alternatives, through a fund managed by its infrastructure debt business, to fund the construction and development of utility-scale solar and battery storage projects, according to a news release.

This credit facility, which closed in the fourth quarter of 2022, provides Heelstone with additional capital to develop and construct a diverse portfolio of solar and battery storage projects of over 11 gigawatts across the United States, according to the company.

Upon commercial operation of the funded projects, enough electricity is expected to be produced to offset the energy usage of more than 700,000 residential homes.

Based in Chapel Hill, N.C., Heelstone is a utility-scale solar developer with expertise in development, construction and operation.

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