HEP Kapitalverwaltung AG, a German-based clean energy fund, has announced a strategic partnership between its U.S. affiliate hep Energy USA and solar EPC ReNew Petra to develop more than 100 MW of distributed solar annually in the United States. This new development entity will operate as Emerald Hills Holding.
“Our partnership with ReNew Petra launches hep’s new strategic endeavor in the U.S. distributed solar market,” said Christian Hamann, hep’s founder. “We are excited about this new chapter for our investors. In ReNew Petra, we have found a partner who shares our core value proposition regarding long term ownership and environmental responsibility.”
Through this strategic move, ReNew Petra, which has been a strong regional developer in North Carolina and the Southeast, is poised to expand its geographic reach and build its balance sheet.
“We are excited to partner with hep, an experienced global solar player who has an outlook complementary to ReNew Petra’s corporate mission, which is focused on harnessing renewable energy in an economically advantageous way to achieve environmental sustainability,” said Kizzie Bozeman Brown, president and CIO of ReNew Petra Investment Fund.
Emerald Hills Holding expects to streamline project sourcing, development, EPC, O&M and financing to offer above-average returns to hep’s investors.
News item from Emerald Hills Holding