Repsol has made its first move into the renewables market by acquiring 40% of Hecate Energy, a US company specializing in the development of PV solar and battery projects for energy storage.
Repsol has made its first move into the renewables market by acquiring 40% of Hecate Energy, a US company specializing in the development of PV solar and battery projects for energy storage.
Hecate Energy, based in Chicago, has an extensive portfolio of renewable projects totalling more than 40 gigawatts (GW). Of these, 16.8 GW are PV solar projects and energy storage associated with these assets, all at advanced stages of development. The company also participates in Hecate Grid, a battery platform for energy storage with a capacity of 4.3 GW.
The agreement will make Repsol a significant player in the US solar and battery storage development market. The company will also have the option of acquiring Hecate Energy’s outstanding shares three years after the closing of this transaction.
