DGAP-News: hep global GmbH / Key word(s): Miscellaneous
Climate Summit and Economic Stimulus Package - President Biden Promotes Renewable Energies
1.3 trillion US dollars for clean energy and infrastructure
Investments totaling 1.3 trillion US dollars are to be used to completely overhaul the ailing infrastructure system. 100 billion US dollars alone are to be spent on replacing defective power lines and building new ones. Support is also to be given to decentralized local power grids, so-called "micro grids", which are fed by renewable energy sources. These are intended to make communities independent in terms of power supply in the event of environmental disasters and thus better protect them from the consequences of climate change.
New opportunities for project development through tax breaks
The so-called "direct pay" option, which has already been proposed by both Biden and Congress, would bring simplified mechanisms in financing and thus the possibility to implement planned solar projects even faster - especially if in the future, there is the possibility to waive the involvement of tax equity investors.
"The announced infrastructure program is excellent news for hep. It will enable us to implement projects from our project pipeline even more efficiently and thus contribute to the rapid expansion of renewable energies in the U.S.," says Dr. Alexander Zhou, Chief Project Officer, adding, "In the U.S. solar market, we are ideally positioned thanks to our existing contacts and comprehensive expertise and are in a position to profitably benefit from the announced resolutions."
Corporate bond finances "early stage" projects
Recently, hep global GmbH decided to issue a corporate bond to finance future photovoltaic projects in these stages. Christian Hamann, founder and CEO of hep global GmbH: "We have a huge project pipeline of 5.3 GWp, which we now want to develop and further expand on our own account with our expertise built up over many years."
As early as 2020, hep decided to expand in the USA, the second strongest solar market in the world. The acquisition of project developer Solops was followed by a majority stake in project developer ReNew Petra, which holds construction licenses in 14 US states. With deep market knowledge, an extensive network and a project pipeline of 4,800 MWp, hep is well positioned for upcoming developments in the USA.
More about the "Green Bond" from hep: www.hep.global/green-bond
30.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
hep global GmbH
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