Strategic View: German asset manager HEP has launched its “HEP Solar Club Deal 1,” a specialized AIF* to finance a 124MW solar project in Alberta, Canada. This cross-border club deal targets German professional investors, offering an 8-11% target return by capitalizing on Alberta’s superior solar conditions and energy transition needs.
Full story: Here is a perfect snapshot of a 2025 infrastructure club deal: German capital, Canadian sunshine, and a specialized structure. HEP, a savvy German manager, has identified a prime opportunity in Alderson, Alberta. The Canadian province offers two key ingredients: 330 days of sun and an energy grid still 80% reliant on fossil fuels. This creates a massive, urgent demand for renewables.
HEP’s solution is not a broad fund, but a precision tool: the “HEP Solar Club Deal 1.” This is a specialized AIF* structure designed to attract a select club of professional German investors. The vehicle is laser-focused on financing a 124MW solar park, with commissioning slated for later this year. The structure is lean, the mission is clear.
Why Alberta? The location is a financier’s dream. The high-altitude prairie offers 40-50% higher electricity yields than comparable sites in Germany. Furthermore, Canada’s 2035 target for a CO2-neutral grid means regulatory tailwinds are strong. This is a story of “EBITDA stacking,” where environmental policy and natural advantages combine to create a compelling financial case.
This deal is a template for the new era of infrastructure. It is cross-border, highly specialized, and ESG-driven. It shows how sophisticated managers are using club deal structures to connect investors in one continent with specific, high-yield greenfield assets on another. The target return of 8-11% is just the reward for this brilliant piece of financial matchmaking.
*AIF: Alternative Investment Fund.
Summary: This HEP deal showcases the club deal as a precision tool for cross-border green infrastructure. It connects German capital directly to a high-yield Canadian solar project, bypassing broad funds. It matters because it’s a lean, efficient model for financing the global energy transition at the project-by-project level.
Source: BIT Treuhand AG
