The clean energy revolution requires more than technical expertise. A deep understanding of economic conditions and due diligence in financing, planning, and resource management is required to make the investments that fuel renewable energy projects. Sargent & Lundy completed an independent engineering and due diligence review for Transition Equity Partners, which supported a $54 million investment in Heliene, Inc., one of North America’s fastest-growing solar module manufacturers.
The multimillion-dollar investment will help create over 150 new full-time jobs in Minnesota and increase Heliene’s manufacturing capacity by 550 MW for a total U.S. manufacturing capacity of approximately 1.5 GW per year.
Transition Equity partners engaged Sargent & Lundy to perform the due diligence review of Heliene’s new manufacturing plant in the Minneapolis-St. Paul area. The review included an in-person site visit to their current operating facility in Minnesota. The purpose of the site visit was to observe the operational systems and manufacturing line, interview plant personnel, and assess overall plant workflow to determine its replicability for the proposed new facility.
Sargent & Lundy also reviewed the availability of a suitable workforce, the logistical infrastructure to bring in raw materials, and the plant’s manufacturing equipment supply plan. The due diligence review concluded with an examination of the budget and engineering and construction plan.
Sargent & Lundy is a global leader in power, energy, and decarbonization with expertise in grid modernization, renewable energy, energy storage, nuclear power, conventional power, carbon capture, and hydrogen. The firm’s technical expertise is complimented by its knowledge of economic and financial planning and over 130 years of experience bringing complex projects to completion.