October 16 (Renewables Now) - Chinese rooftop solar installer Asia Clean Capital Ltd (ACC) has set up a joint venture (JV) with US-based Hyperion Solar Ltd, aiming to develop, build, acquire and operate solar photovoltaic (PV) plants in Hong Kong and Macau.
The partners intend to take advantage of the attractive opportunities on the Hong Kong solar market, which offers a feed-in-tariff (FiT) support mechanism and a favourable policy environment in relation to renewables, ACC said on Wednesday. According to the Chinese firm, Hong Kong’s decarbonisation strategy “provides a powerful policy context and incentive to invest in solar energy.”
Presently, ACC Solar Hong Kong Limited is developing a pre-identified pipeline of projects. Its plan is to use its PV development experience and seek to provide innovative funding solutions for small-scale projects, which are widespread in areas such as Kong Kong.
ACC is backed by US investment bank Goldman Sachs Group Inc (NYSE:GS) and DCIF. Its partner Hyperion Solar, meanwhile, is partly owned by Hong Kong-based solar developer Helios Renewable Energy.