Marathon Capital Advises Heelstone Energy on the Sale of a 194MW Solar Portfolio to Sammons Renewable Energy

Heelstone Energy will continue to provide asset and operations management services to Sammons Renewable Energy for the entire portfolio.

Marathon Capital, LLC has announced the sale of a 194 MW (DC) utility-scale solar portfolio by Heelstone Energy Holdings, LLC ("Heelstone") to Sammons Renewable Energy ("SRE").

Heelstone, headquartered in Chapel Hill, North Carolina, is a leading developer, owner and operator of solar projects.

Will Owens, Member of the Board of Managers and Managing Director of Heelstone, said, "We are confident that the portfolio has found an ideal long-term home with SRE. As we look to the future, we are well positioned with our current pipeline to develop and bring additional solar PV projects to completion. On behalf of the entire Heelstone team, I would like to thank Marathon Capital for their advice, expertise, and a job well done."

"The Heelstone assets are a compelling fit for the SRE portfolio," commented Kevin Lapidus of Franklin Park.  Franklin Park manages Sammons Renewable Energy on behalf of Sammons Infrastructure, a wholly owned subsidiary of Sammons Enterprises.

Heelstone will continue to provide asset and operations management services to SRE for the 194 MWDC utility-scale solar portfolio.

Marathon Capital acted as the exclusive financial advisor to Heelstone on the sell-side process. "It has been a pleasure to work with both the Heelstone and SRE teams. Heelstone has accomplished a lot and has an exciting future ahead of them. We are thankful for their trust and are delighted with the outcome," said Ammad Faisal, Director of Marathon Capital.

Source: PRNewswire