Headwater Energy has secured construction financing for the 112.5MWdc Gum Swamp solar project in North Carolina. The financing was arranged by BridgePeak Energy Capital and funded in part by Pathward, marking a significant step in expanding Headwater’s portfolio as an independent power producer in the Southeast. The project is expected to generate enough clean electricity to power approximately 17,000 North Carolina households each year.
The Gum Swamp project builds on Headwater’s existing portfolio of 177MWdc of operational assets and a 2.8GWdc development pipeline across the region. The company continues to position itself as a long-term owner and operator of renewable energy infrastructure, emphasizing scale and dependable asset management.
Michael Cohen, CEO of Headwater, stated that the financing reflects both Headwater’s growth ambitions and the partners’ aligned commitment to expand reliable solar infrastructure in the Southeast. Pathward’s participation in the transaction was completed through its energy lending program, with BridgePeak serving as lender service provider and coordinating a lender syndicate.
David Thigpen, President of BridgePeak, noted that the project is intended to play a role in delivering low-cost energy to meet emerging load demands, including those driven by artificial intelligence workloads. The project is expected to enter service in approximately 18 months.
The financing aligns with BridgePeak’s broader goal of facilitating more than $2 billion in clean energy project lending in 2025. BridgePeak currently services a $3.7 billion commercial loan portfolio and has closed over $5.4 billion in energy project loans since 2020.
Pathward, a national bank focused on expanding financial access, continues to support energy and infrastructure lending through its Partner Solutions and Commercial Finance divisions.
KEY QUOTES:
“This financing marks an important milestone in Headwater’s continued growth and expansion as a long-term owner and operator of clean-energy assets. 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.”
Michael Cohen, CEO, Headwater
“We’re proud to support Headwater’s mission and to partner with BridgePeak on this important transaction.”
“BridgePeak’s deep expertise and collaborative approach were instrumental to this closing.”
Christopher Soupal, Division President and Revenue Lending Officer, Pathward
“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.”
David Thigpen, President, BridgePeak Energy Capital
