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.

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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.

hep solar
hep solar is a specialist for solar investments and solar parks. The
owner-managed family business from Baden-Württemberg develops, builds,
operates and finances solar parks all over the world, but especially in
Germany, Japan and North America. For over 15 years, hep solar has been
combining know-how in the operational management of solar parks with a high
level of expertise in the financial sector. The company covers the entire
solar energy value chain: from project development and construction to
long-term operation. Through international solar investments, hep solar
offers investors the opportunity to participate in the global expansion of
solar energy. hep solar employs over 200 people worldwide with offices in
Germany, Japan, the USA and Canada.

Press contact:
Evelyn Kilinc
Römerstraße 3
D-74363 Güglingen
Phone: +49 7135 93446-759
Email: presse@hep.global
www.hep.global

Investor contact:
Thomas Tschirf
Römerstraße 3
D-74363 Güglingen
Phone: +49 7135 93446-0
Email: greenbond@hep.global
www.hep.global

Financial press contact:
Frank Ostermair, Linh Chung
Better Orange IR & HV AG
Haidelweg 48
D-81241 Munich
Phone: +49 89 8896906-25
Email: linh.chung@better-orange.de
www.better-orange.de


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13.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   Language:       English
   Company:        hep global GmbH
                   Römerstraße 3
                   74363 Güglingen
                   Germany
   Phone:          +49 (0)7135 93446 - 0
   E-mail:         info@hep.global
   Internet:       www.hep.global
   ISIN:           DE000A3H3JV5, DE000A351488
   WKN:            A3H3JV, A35148
   Listed:         Regulated Unofficial Market in Berlin, Dusseldorf,
                   Frankfurt, Hamburg, Hanover, Munich, Stuttgart,
                   Tradegate Exchange
   EQS News ID:    1901441

End of News EQS News Service
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1901441 13.05.2024 CET/CEST