JV to Develop Solar projects in HK and Macau
ACC Founders Limited (ACC) and Hyperion Solar Limited announced the formation of a joint venture on October 16 (2019) to develop, construct, acquire and operate solar photovoltaic (PV) projects in Hong Kong and Macau. This will be through ACC Solar Hong Kong Limited (ACC Solar HK).
ACC Founders Limited is a leading clean energy solutions developer that serves large multinational and domestic firms throughout Mainland China. The company is invested in by Goldman Sachs and DCIF in Mainland China.Focused on rooftop solar projects, ACC invests 100 percent of the project costs and provides the design, engineering, equipment, government approvals, installation, and long-term maintenance of solar systems.
Hyperion Solar Limited is partly owned by Helios Renewable Energy Limited, a Hong Kong-based solar advisory and development company founded in 2015.
ACC Solar HK sees attractive opportunities at this stage to invest in the Hong Kong solar market with a combination of the feed-in-tariff scheme introduced in 2018, policy commitments regarding renewable energy, climate risk mitigation, and innovation, and Hong Kong’s long term decarbonization strategy.
ACC Solar HK is developing a pre-identified pipeline of projects and working to collaborate with public and private sector asset owners and other stakeholders to accelerate the growth of the solar market and increase the percentage of renewable energy in Hong Kong’s energy mix.
In addition to capital, ACC Solar HK brings a wealth of PV development experience to the market from different regional and international solar markets. The company will seek to leverage the blockchain and fintech ecosystem in Hong Kong to provide innovative funding solutions to promote community ownership and accelerate the proliferation of small-scale solar installations which are typical of high-density urban areas like Hong Kong.
Source: Asia Clean Capital (ACC)