MOUNTAIN IRON, Minn., Sept. 25, 2024 (GLOBE NEWSWIRE) -- Heliene Inc., a customer-first provider of North American-made solar PV modules, today announced the sale of approximately $50M Section 45X Advanced Manufacturing Production Tax Credit (45X credits). The transaction was facilitated by Basis Climate, a leading facilitator of clean energy tax credit transfers.
Heliene is able to claim eligibility for these tax credits under the guidelines of the Inflation Reduction Act's Section 45X credits. Heliene manufactures high-quality, U.S.-made solar modules that feature a high volume of domestically-sourced components at its existing factory in Mountain Iron, Minnesota. The company is now building a new module factory in the Minneapolis-St. Paul Metro-area, with a planned start up of May 2025.
"Monetising our 45X tax credits through this sale is instrumental in continuing the growth of Heliene's domestic manufacturing capacity," said Martin Pochtaruk, CEO of Heliene, Inc. "This transaction provides long term sustainability, hence enabling us to expand our commitment to offering developers reliable, quality modules that feature the highest possible volume of domestic content. We're grateful to the team at Basis Climate for facilitating this important deal. Together we're building a stronger, bankable U.S. solar supply chain."
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