Heliene completes third 45X tax credit sale of 2026
Solar module manufacturer Heliene Inc. has announced its sale of the 2026 Section 45X Advanced Manufacturing Production Tax Credits, also known as 45X credits.
The third deal of its kind for the Minnesotan firm, the sale was facilitated by another financial entity from the North Star State, U.S. Bank. The Minnesotan banking firm also facilitated a similar transfer for Heliene in 2025, officials say.
Through its community development and infrastructure finance subsidiary, U.S. Bancorp Impact Finance, the banking institution has become “one of the most active renewable energy investors” in the U.S., according to Heliene, as well as one of its largest tax credit syndicators.
“It was an honor to work with U.S. Bank on yet another 45X tax credit transfer deal, supporting clean energy manufacturing, investment, and job creation across the state of Minnesota,” says Heliene CEO Martin Pochtaruk. “As the broader U.S. solar industry evolves and project economics shift, Heliene will leverage the funds from this latest transaction to continue building a strong, domestic supply chain that reduces risk and promotes national energy security.”
Getting stronger on American shores
Heliene has made 45X credit transactions in three consecutive years, including 2026, the company says. All three of the firm’s credit transfers have come in service of building a stronger supply chain for both itself and the American solar market as a whole, the company says.
Heliene officials say the company is “actively investing” in the expansion of both its U.S. solar and silicon supply chains, aiming to offer improved certainty, project economics, and total costs for customers. The firm cites its newly released, American-made residential solar module, the 108HC All-Black, as a “critical milestone” for reshoring PV manufacturing in the U.S.
The company says it will use the new proceeds from U.S. Bank to continue this mission, supporting continued expansion of American solar manufacturing.
“We are grateful to again support Heliene as it expands its manufacturing capacity of clean energy components in U.S. Bank’s home state of Minnesota,” says Ryan Goss, VP of infrastructure finance at U.S. Bancorp Impact Finance. “45X tax credit transfer transactions help our clients scale production, strengthen supply chains and create high-quality jobs in local communities.”
Currently employing more than 400 solar industry professionals, the Minnesotan manufacturer now aims to cement its financial sustainability, and “pursue strategic partnerships to onshore more of the domestic solar supply chain.”
Outputting 1.3 GW between its two manufacturing facilities each year, the company has announced a recent purchase agreement with Sunrun, as well as a partnership with Stewart Glass. Both of these efforts will further bolster its domestic supply chain, with Sunrun executing a purchase agreement for the 108HC All-Black.
