hep Launches First Solar Park in the United States

03.11.2020

“White Street“ in North Carolina has Installed Capacity of 4.4 Megawatts

 

Power Remuneration via Power Purchase Agreement

 

Solar Park „White Street“: With hep, German investors invest in the development, construction and operation of solar parks worldwide. With over 40 solar parks developed worldwide since 2008, the company for the first time announces the commercial operation date of a solar park in the USA.

“White Street” is located on the east coast of the US, in the state of North Carolina, with an installed capacity of 4.4 megawatts. After the technical finalization of the project follows a test operation phase before the solar park can officially be put into operation and generate financial revenue.

For the first time, hep used so called uniaxial tracking systems for a solar park, allowing an automatic alignment of the photovoltaic modules with the sun throughout the day. The park was installed by the experienced solar construction company ReNew Petra of which hep holds the majority stake.

 

hep in the USA – Power Purchase Agreements: In the US, projects in the field of renewable energies are regulated decentrally. On the free market, so called Power Purchase Agreements provide electricity suppliers and collectors with planning security.

For years, hep has been gaining experience as a project developer on the US market, and in 2020, hep announced the acquisition of project developer Peak Clean Energy based near Denver, Colorado. The company has decade-long experience in developing utility-scale projects, with a capacity starting from 10 megawatts. At the time of acquisition, the company had a project pipeline of more than 4 gigawatts. Shortly after, hep acquired the majority stake of solar company ReNew Petra, based in North Carolina, which previously developed over 100 megawatts and has building licenses in 14 states.

 

US Solar Market: The US currently are in second place of the leading solar markets worldwide. 29 of the 50 states have voluntarily committed to Renewable Portfolio Standards and have set ambitious installment targets for projects in the field of renewable energies. In 2019, 13.3 gigawatt of solar energy were installed across the country. According to the US-American solar association, a 23 percent increase was recorded in comparison to the previous-year period.

 

Current AIF for Private Investors: Solar investments are in high demand, as solar energy is part of a systemically relevant infrastructure, and in times of crisis it is a reliable investment product. By November 2, an equity of 34 million Euros was acquired by German investors, and through special purpose vehicles invested in then 15 projects in Japan and the United States.

 

Press Release "COD of Solar Park White Street"