Heliene sells 2025 tax credits to boost Minnesota solar output

The sale of Heliene’s Section 45X tax credits has funded its Minnesota PV plants as US Bank has facilitated the transaction to support production, jobs, & supply chains.

By Karthik Srivasthav G 01 Jul 2025 in Business Bytes America Bytes

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Heliene has secured its second transfer of Section 45X tax credits after completing a $50 million deal in 2024. Image Source: Heliene

Heliene, a Canada-based solar module manufacturer, has completed the sale of its 2025 Section 45X tax credits to support its Minnesota operations. U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank, structured the transaction to fund workforce expansion and supply chain growth. The credits, issued under the Inflation Reduction Act, support production at Heliene’s Mountain Iron and Rogers facilities, with a combined capacity of 1.3 GW and over 500 employees. This is Heliene’ssecond Section 45X credit transfer after a $50 million sale in 2024. Heliene also received a $2.9 million contribution from the Minnesota Department of Employment and Economic Development to support job creation at the Rogers site, which opened in May 2025.

#Heliene #TaxCreditTransfer #USBancorp #Section45X

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