HESP Solar LLC (HESP), a New York-based solar and storage developer and independent power producer (IPP), today announced the successful closing of financing across a 46-site, 13 MW distributed generation solar portfolio. The transaction marks a key milestone in advancing the company’s 2026 deployment strategy.
The portfolio is primarily comprised of municipal projects, with approximately 50% of the assets serving public sector offtakes across HESP’s core Northeast markets. The transaction includes long-term capital from Fifth Third Bank, acting as lead arranger and lessor, along with its syndication partners.
This closing represents an important milestone for HESP, bringing the company’s cumulative financings since its transition to an IPP to over $100 million. The transaction further reinforces HESP’s ability to originate, structure and execute scalable financing solutions across diversified solar portfolios.
“We are pleased to continue building on our strong relationships with institutional capital providers and delivering repeatable financing solutions for our growing portfolio,” said Susan Brodie – Chief Operations Officer HESP Solar. “Our focus remains on developing high-quality assets with creditworthy offtake, particularly within the municipal segment, where we see continued opportunity for long-term growth.”
“HESP Solar has been highly consistent and reliable, demonstrating strong execution capabilities and a disciplined approach to developing high-quality distributed generation assets. We value the team’s ability to deliver repeatable results across portfolios and look forward to continuing our relationship as they scale their platform,” said Jonathan Stark, managing director and head of Renewable Energy Finance Group, Fifth Third Corporate and Investment Banking.
HESP Solar has been developing and constructing distributed generation solar projects for over a decade and continues to expand its footprint across key Northeast markets, with a robust pipeline of projects scheduled for deployment in 2026 and beyond.
At HESP, execution defines our platform. We consistently deliver projects from site control to COD in under six months well ahead of typical industry timelines. This approach has enabled us to complete over 40 projects across four core markets—New Jersey, Washington, D.C., Maryland, and Connecticut—in less than 12 months.
In parallel, we have established ourselves as a premier developer and owner of municipal solar, building a differentiated platform focused on public sector partnerships. Speed, consistency, and focus are what drive our growth.