Headwater Energy (Headwater), a leading utility-scale solar and energy storage development firm, closed construction financing on a 112.5MWdc solar project in North Carolina arranged by BridgePeak Energy Capital (BridgePeak) and funded in part by Pathward (Pathward). The Gum Swamp solar project is projected to generate clean energy to power the equivalent of 17,000 North Carolina households annually, marking a significant expansion of solar energy capacity in the state.

The financing will allow Headwater to accelerate its growth in the Southeast, which already includes 177MWdc of operational assets and a 2.8GWdc development pipeline.

“This financing marks an important milestone in Headwater’s continued growth and expansion as a long-term owner and operator of clean-energy assets,” said Michael Cohen, CEO of Headwater. “BridgePeak and Pathward have been exceptional partners whose support reflects the strength of our platform and our shared commitment to building reliable, scalable clean-energy infrastructure across the Southeast.”

“We’re proud to support Headwater’s mission and to partner with BridgePeak on this important transaction,” said Christopher Soupal, Division President and Revenue Lending Officer at Pathward. “BridgePeak’s deep expertise and collaborative approach were instrumental to this closing.” 

“BridgePeak is excited to support Headwater’s pipeline of energy projects that will generate low-cost electrons to power AI now and in the immediate future. Gum Swamp will be placed in service in just 18 months, illustrating the value of an ‘all of the above’ energy policy,” said David Thigpen, President of BridgePeak.

The loan was originated under Pathward’s energy lending program and a lender syndicate, with BridgePeak serving as lender service provider. The transaction is part of BridgePeak’s broader initiative to facilitate over $2 billion in energy project financing in 2025.