Largest Procurement Effort for US Community Solar as Nexamp Orders 1.5 GW Solar Modules

Largest Procurement Effort for US Community Solar as Nexamp Orders 1.5 GW Solar Modules

In what is touted as the largest procurement initiative for community solar in US, Boston’s community solar developer, Nexamp, has placed an order worth 1.5 GW of solar modules from Heliene, a manufacturer of solar photovoltaic modules in American and Canadian facilities

“A solar order of this size is without precedent and comes at a critical time as the US continues to develop its solar supply chain,” stated Zaid Ashai, Chairman and Chief Executive Officer of Nexamp. “This partnership wouldn’t be possible without the Inflation Reduction Act and is proof that this historic piece of legislation is continuing to encourage renewable energy production and help drive the energy transition.” 

The Heliene modules, manufactured in North America, will pave the path for 400 new community solar projects in the span of the five years that follow. The modules by Heliene, which are domestically made, will qualify for 10% domestic content bonus tax credit adder under the provision of the US Inflation Reduction Act.  

“Thanks to the Inflation Reduction Act, companies like Nexamp [and Heliene] can make investments that boost American manufacturing and create American jobs, while lowering families’ energy bills,” maintained US Secretary of Energy Jennifer M. GranholmGranholm. 

The collaboration between Nexamp and Heliene will also give a push to additional research and development while also chalking out about 1,000 jobs in the Iron Range region. 

“The well-designed incentives and the industrial policy included in the IRA will drive continued growth of solar projects and this partnership puts Heliene and Nexamp on track to meet demand with high-quality, domestically manufactured solar modules,” said Heliene Chief Executive Officer, Martin Pochtaruk. “This historic order also enables Heliene to maintain its commitment to creating good paying manufacturing jobs in the US solar industry.” 

A few months back, Nexamp had announced over $400 million in tax equity and debt commitments led by US Bancorp Impact Finance and Mitsubishi UFJ Finance Group (MUFG). The funds will support the creation of 49 solar power and battery storage projects in six US states. The renewable energy projects will come up in Northeast, Mid-Atlantic, and Midwest benefiting more than 25,000 households with $6.5 million worth electricity bill savings.