February 14 (Renewables Now) - German clean energy fund HEP Kapitalverwaltung AG has partnered with New Jersey-based commercial and industrial (C&I) solar developer Solops LLC as it seeks to grow its footprint in the US distributed solar market.
The firms have formed a new entity, Emerald Garden Holdings. The move supports HEP's North American investment strategy under which it aims to develop more than 200 MW of commercial and industrial (C&I) solar projects per year, says a statement on Thursday announcing the strategic partnership between Hep Energy USA and Solops.
"Solops has strong C&I development experience throughout the US, especially in the Northeast and mid-Atlantic regions. We can leverage the complementary strengths within our US portfolio to deliver above average results for our investors," HEP's senior vice president for North America, Alexander Zhou, noted.
The latest announcement follows a similar deal between HEP and North Carolina-based developer ReNew Petra, unveiled in July 2019, which marked the German fund's first foray into the US distributed solar market.