Headwater Energy, an independent power producer based in the United States, has finalised a $144mn construction loan for its Gum Swamp solar project with a capacity of 112.5 megawatts direct current (MWdc) located in North Carolina. The financing was structured by BridgePeak Energy Capital, a firm specialising in energy project finance, and includes participation from Pathward, N.A. and a lender syndicate.
A strategic addition to Headwater’s portfolio
The Gum Swamp project is expected to supply the equivalent of 17,000 households annually in North Carolina. This transaction marks a step in Headwater Energy’s expansion, which already includes 177 MWdc in operational assets and a 2.8 gigawatt direct current (GWdc) development pipeline in the southeastern region of the country.
The financing supports Headwater Energy’s strategy to position itself as a long-term operator of electricity generation infrastructure. Commissioning of the site is scheduled within 18 months. The facility will be connected to the grid, although no detailed construction timeline has been publicly disclosed.
BridgePeak strengthens position in energy finance
BridgePeak Energy Capital is acting as lender service provider in the deal. The company aims to facilitate over $2bn in energy project financing throughout 2025. The Gum Swamp project is among the first deployments under this initiative, illustrating a strategy to accelerate low-cost power generation capacity in areas with growing industrial, particularly digital, demand.
Pathward, active in structured finance through its energy lending programme, continues to work with developers like Headwater, while partnering with technical and financial stakeholders to support the execution of large-scale projects. Although the structure of the transaction was not detailed, it involves multiple institutional lenders.
