Peak Clean Energy sells its solar development pipeline to German-based renewable energy fund hep global GmbH ("hep"). The acquisition includes a series of near-term projects and will drive hep’s utility-scale development in the USA. Marathon Capital, LLC ("Marathon") acted as Exclusive Financial Advisor to PCE on the transaction.
Peak Clean Energy (PCE) is a Colorado-based solar developer with extensive experience in greenfield renewable power development, including contracting, financing, and ultimately advancing power generation projects from development to construction to commercial operations.
Headquartered in Germany, hep is a renewable energy-focused investment fund manager and vertically integrated solar power development company involved in the full development cycle of solar projects: from project development to construction and long-term operation. Worldwide, hep has developed 40 solar projects and currently has a project pipeline of nearly 3 GW.
At this unique juncture for the solar industry, with all-in costs down significantly and reductions in tax credits on the horizon, PCE was looking for an entrepreneurial partner that would lean in to rapidly developing a large pipeline. Finding a partner with a similar development mindset, as well as providing the financial backing to help management focus on driving an efficient development process, was critical.
“We are glad that Marathon brought a unique ability to provide context and assistance in working with us to reach this milestone event. We are excited to work for hep as they are distinctive in combining their thoughtful approach and financial resources to advance our mutual goals of growing a utility-scale solar portfolio in the US.” – Ilan Caplan, Co-Founder and Vice President.
“We are excited to add PCE’s experience to our team and expand our strategic market reach. At the Colorado office, we’ll be able to drive our utility-scale development business across the United States. We are looking forward to integrating the team as we share a similar development mindset and a commitment to the environment. – Dr. Alexander Zhou, Senior VP North America
“We truly enjoyed working with PCE on this transaction. PCE’s senior management team has over 50 years of combined experience focused on the development, financing and construction of numerous renewable energy projects across the US. PCE’s innovative development approach, lean operation, and extensive development pipeline will enable hep to quickly scale their business strategy in the United States.” – David Kirkpatrick, Director & Co-Head of West Coast Office