HelioPower has announced a new fund to finance solar PV projects in the U.S. The fund is not dependent on the federal grant in lieu of the investment tax credit under Section 1603 of the American Recovery and Reinvestment Act of 2009, the company notes.
The HelioPower solar fund is available to solar integration firms, commercial property owners, and municipal or educational institutions for solar photovoltaic projects from 350 kW to 3 MW in size. The energy off-taker must have an investment-grade debt rating.
This is HelioPower's second project fund. The company's initial fund, the Green Energy Community Investment Fund, was a joint financing program of HelioPower and Citi Community Capital to finance solar power systems on qualifying commercial and public sector facilities throughout the U.S.