Renewable Energy WorldJuly 24, 2019781
German clean-energy fund Hep Kapitalverwaltung AG is partnering with ReNew Petra, a North Carolina-based renewable energy company, to develop 100+ MW of small, distributed solar projects annually. The partnership stems from promising growth in the US solar market, making it attractive to investors.
Germany-based clean-energy fund Hep Kapitalverwaltung AG agreed to invest $50 million to $80 million annually in a partnership to develop small solar projects in the U.S.
Hep and ReNew Petra, a North Carolina-based renewable energy company, plan to jointly develop more than 100 megawatts of solar annually, according to a statement Wednesday. Their venture, Emerald Hills Holding, will enable ReNew to expand beyond the Southeast.
The partnership comes as investors see promising growth in the U.S. solar market and mid-sized players like Hep are forsaking big projects for smaller ones. That’s in part because large institutional investors have dominated recent auctions for utility-scale developments. Plus, smaller solar farms offer returns that can be more than 2% higher than big projects, said Paula Zagrecki, chief executive officer of Zorya Energy Advisors, which advised Hep on the deal.
“If we have to choose between investing in two 100-megawatt utility-scale projects in Texas versus a diversified portfolio of small solar across the U.S. -- we’d prefer the portfolio,” said Alexander Zhou, Hep’s head of mergers and acquisitions, in an interview. “It’s less risky.”
Hep has developed about 400 megawatts of solar in Germany, the U.K. and Japan, while ReNew has done up to 200 megawatts of energy projects.
Help solar grow in the US - check the price of installing solar on your home today with the HahaSmart Price Checker.
Check our list of Solar Incentives in your area for additional savings.
Input your address to see if it is solar friendly and how much you can save with solar.
Great. Your address is perfect for solar. Solar incentive is still available. Select monthly utility cost and calculate the size of solar system you will need now.
|kw System size||years Payback period||Lifetime savings|
No money down, 100% finance is available.
Now Is the Time to Get Solar in the US - Sign Up Today