The hep Group is continuing its successful international solar project development. The Baden-Württemberg-based photovoltaic expert is connecting another major project in the U.S. to the grid: the Depot Solar Center LLC solar park. The solar park covers a total area of over 60 hectares and is located in the state of Virginia. The park was planned and built by the hep Group and will now be operated on a long-term basis. The more than 50,000 solar panels installed generate a total of 21.4 MWp of solar power, which is enough energy to supply approximately 2,600 households.
hep connects a 21.4-MWp large-scale project in the U.S. to the grid
With hep, value creation remains in one place
From financing and project development to construction, maintenance, and operation—hep handles all aspects of the “Depot” solar park. Financing, project development, and project management are managed from the company’s German headquarters. Construction of the solar park has been undertaken by the experienced U.S. solar construction company hep Petra, in which hep holds a majority stake. hep Petra will also manage the park during operation and handle all maintenance and upkeep.
A reliable partner
To ensure that the park generates electricity as efficiently as possible, it will be connected—like all other newly constructed solar parks—to hep’s proprietary monitoring system, allowing it to be monitored around the clock from all company locations. This combination of modern remote monitoring and extensive experience results in high cost efficiency and plant availability. Through a power purchase agreement, hep has secured attractive revenue for the solar power it generates for the next 20 years. In return, the local grid operator receives electricity at fixed prices.
Sustainably positioned
hep’s business model is aligned with the global sustainability goal of “expanding renewable energy and reducing greenhouse gas emissions.” In 2021 alone, hep solar parks worldwide produced approximately 66,534 megawatt-hours of solar power. hep also plans to further diversify its geographic focus. In addition to its existing markets in the U.S., Canada, Germany, and Japan, the company intends to begin project development activities in another European country in the fourth quarter of 2022. Information on the hep Group’s business performance can be found in the 2022 Half-Year Financial Report and the 2021 Consolidated Financial Statements, which are available on the company’s website at www.hep.global under the section Company/Green Bond/Reports & Documents.
Invest responsibly with hep
The Baden-Württemberg-based specialist in solar parks and solar investments has many years of market experience as well as extensive expertise in the design and management of real asset investments and alternative investment funds. Trust, responsibility, and transparency have always been at the core of its operations. Since 2008, hep has been developing, building, and operating solar parks worldwide and offers investments with varying terms and risk-return profiles. The company is currently working on a sustainable fund in accordance with Article 9 of the EU Disclosure Regulation, whose economic activities are consistent with the Taxonomy Regulation.