Press Release

Kirkland Advises Orion Infrastructure Capital in Debt and Equity Investment in Heliene

Kirkland & Ellis advised OIC L.P. (Orion Infrastructure Capital) on its investment in Heliene, Inc. via a senior secured debt facility and purchase of preferred equity. Heliene manufactures and sells solar photovoltaic modules from its production facilities located in Minnesota and Ontario, Canada. Heliene intends to use the investment to fully fund its expansion plans and generate section 45X advanced manufacturing tax credits and other IRA-based tax credit add-ons from its U.S. manufacturing facility.

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The Kirkland team was led by debt finance partners Kelann Stirling and Layton Bell and associate Sharaf Islam; corporate partner Shubi Arora and associates Emma Balls and Andrew Daniels; and tax partners Mark Dundon and Mike Masri and associates Nicole Martin and Griffin Peeples.