EQS-News

hep solar: Approval in Canada for largest solar project to date

EQS-News: hep global GmbH / Key word(s): Miscellaneous hep solar: Approval in Canada for largest solar project to date 13.05.2024 / 11:00 CET/CEST The issuer is solely responsible for the content of this announcement. hep solar: Approval in Canada for largest solar project to date Güglingen, 13 May 2024 – hep solar, the Baden-Württemberg-based specialist for solar parks and solar investments, has received approval from the Alberta Utilities Commission for the construction and operation of the Alderson project in Canada. With a nominal output of over 120 MWp, it is hep solar’s largest solar project to date.

Further steps towards project realization are also progressing according to plan. To avoid delays caused by problems in the supply chain, time-critical components such as the substation and the main fuses have already been contractually secured. In addition, the financing coverage is proceeding as planned. The contract with the general contractor will be finalized based on the authority’s decision to be able to start the preliminary work in the third quarter of 2024 in line with the schedule.

The 270-hectare solar park in southern Alberta with around 200,000 solar modules will generate around 193,000 MWh per year. This will be enough to supply around 26,800 households in the province of Alberta with green electricity.

Alberta as a solar location offers above-average development opportunities for investments in solar energy. Canada, and particularly the province of Alberta on the border with the USA, is regarded as a hidden champion. On the one hand, the high annual solar radiation of 1,559 kWh/kW contributes to this. On the other hand, the push to shift the Canadian electricity mix towards climate-friendly energy generation is accelerating the energy transition in Alberta.

Sales forecast for 2023 exceeded according to preliminary financial figures

In addition to the pleasing current developments, hep global can also report a positive business performance in 2023. The preliminary, unaudited key financial figures for the past year show that the hep global Group has exceeded its sales forecast of EUR 50 to 60 million with expected sales of over EUR 70 million. The Group also anticipates a positive EBIT within the forecast range of EUR 0 to 5 million and a positive consolidated net profit for the year. As in the previous year, a significant increase in sales and positive consolidated result were therefore achieved for the year as a whole following a weaker first half of the year. The audited consolidated financial statements for 2023 for the hep global Group are to be published on time by the end of June 2024.