hep acquires two solar projects in the USA

11.10.2019

Projects in North and South Carolina have a combined capacity of 8.7 megawatts

 

First effects of the strategic partnership between hep and US-American project developer ReNew Petra: The joint venture, which agreed to develop 300 MW worth of solar projects in the next three years, has acquired the first projects with a combined capacity of 8.7 megawatts. Investment volume for the projects "NC Clear" in North Carolina and "Limelight Solar III" in South Carolina was USD 12.3 million. Two further projects are expected to be acquired shortly.

 

Power purchase agreements with provider Duke Energy

 

Two power purchase agreements were reached with listed energy provider Duke Energy located in Charlotte, North Carolina. For a duration of 13 years, „NC Clear“ will be reimbursed with USD 0.061 per KWh. Yields of solar park “Limelight Solar III” will generate USD 0.064 per KWh, for a duration of 15 years.

 

Due to an investment duration of twenty years, hep uses a conservative market prognosis acknowledged by US banks for the subsequent electricity price.

 

Construction scheduled to start end of 2019

 

Both solar projects are being held by the company’s current special alternative investment fund (AIF) for project development. Following successful project development and the securing of all solar park rights, they will be acquired by a special AIF with investment focus on the USA.

 

Construction is expected to begin at the end of this year.