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German clean-energy fund expanding into US solar development

Germany-based clean-energy fund Hep Kapitalverwaltung AG agreed to invest USD 50 million to USD 80 million annually in a partnership to develop small solar projects in the US

Photo: Amit Dave / Reuters / Ritzau Scanpix

Germany-based clean-energy fund Hep Kapitalverwaltung AG agreed to invest USD 50 million to USD 80 million annually in a partnership to develop small solar projects in the US.

Hep and ReNew Petra, a North Carolina-based renewable energy company, plan to jointly develop more than 100 megawatts of solar annually, according to a statement Wednesday. Their venture, Emerald Hills Holding, will enable ReNew to expand beyond the Southeast.

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