hep solar, the Baden-Württemberg-based specialist in solar parks and solar investments, has received approval from the Alberta Utilities Commission to build and operate the Alderson project in Canada. With a rated capacity of over 120 MWp, it is hep solar’s largest solar project to date.
hep solar: Approval in Canada for its largest solar project to date
Further steps toward project implementation are also proceeding as planned. To avoid delays caused by supply chain issues, time-critical components such as the substation and the main fuses have already been contractually secured. Furthermore, financing is proceeding as planned. The contract with the general contractor will be finalized based on the regulatory authority’s decision so that preparatory work can begin in the third quarter of 2024, in line with the schedule.
The 270-hectare solar park in southern Alberta, featuring approximately 200,000 solar modules, will generate around 193,000 MWh annually. This will supply approximately 26,800 households in the province of Alberta with green electricity.
Alberta offers above-average development opportunities for investments in solar energy. Canada, and in particular the province of Alberta, which borders the United States, is considered a hidden champion. This is due, on the one hand, to the high annual solar radiation of 1,559 kWh/kW. On the other hand, the accelerated transition in Canada’s electricity mix toward climate-friendly energy generation is driving the energy transition in Alberta.
Revenue forecast for 2023 exceeded based on preliminary financial figures
In addition to the encouraging current developments, hep global can also report positive business performance for 2023. The preliminary, unaudited financial figures for the past year show that the hep global Group, with projected revenue of over 70 million euros, has exceeded its revenue forecast of 50 to 60 million euros. The Group also expects positive EBIT within the forecast range of 0 to 5 million euros and a positive consolidated net income. Thus, as in the previous year, following a weaker first half of the year, a significant increase in revenue and a positive consolidated net income were achieved for the full year. The audited 2023 consolidated financial statements for the hep global Group are scheduled to be published by the end of June 2024.