Utility-scale solar developer Heelstone Energy has received an investment from Ares Management Corp.’s Infrastructure and Power (AIP) strategy and rebranded to Heelstone Renewable Energy (HRE).
“The company’s rebrand reflects HRE’s commitment to the development of clean and sustainable power,” said Holly Vandergrift, the firm’s marketing director, in a statement. “HRE continues to consistently reach significant milestones over the years and now, with the support from Ares, we are well-positioned for our next phase of growth.”
HRE said it will use the investment to expand its development capabilities and reach as a utility-scale solar developer.
The investment amount was not disclosed, but AIP said the commitment marks its ninth investment in the solar sector.
AIP invests in cash-generating value-added infrastructure assets with strong downside protection and the potential for capital appreciation throughout the climate infrastructure, natural gas generation and energy transportation sectors. It has deployed more than $8 billion in infrastructure projects and companies.
