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Thursday, 27 May 2021
Hecate Energy announced today that construction has commenced on two solar projects totaling 600 megawatts. In Falls County, Texas, Hecate developed the solar and battery storage project, Roseland Solar, from inception and transferred it to the North American subsidiary of a European utility in March. In Highland County, Ohio, Hecate developed the New Market Solar project and transferred it to Canadian utility Algonquin Power & Utilities in May. Construction has started at both projects. The announcement follows last week’s announcement that global energy company Repsol acquired a 40% interest in Chicago-based Hecate Energy. Jhu Solar in Baltimore, Md. (Hecate Energy)
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CHICAGO, May 21, 2021 /PRNewswire/ Hecate Energy announced today that construction has commenced on two solar projects totaling 600 megawatts. In Falls County, Texas, Hecate developed the solar and battery storage project, Roseland Solar, from inception and transferred it to the North American subsidiary of a European utility in March. In Highland County, Ohio, Hecate developed the New Market Solar project and transferred it to Canadian utility Algonquin Power & Utilities in May. Construction has started at both projects. The announcement follows last week s announcement that global energy company Repsol acquired a 40% interest in Chicago-based Hecate Energy.
Repsol enters US renewables market with investment in solar developer Hecate Energy Email
Repsol will have the option of buying the remainder of Hecate three years after the initial deal closes. Image: Repsol/Flickr.
Spanish oil major Repsol has made its first foray into the US renewables market with the acquisition of a 40% stake in solar and energy storage project developer Hecate Energy.
Repsol, which will have the option of buying the remaining shares three years after the deal closes, said the transaction will make it a “significant player” in the US solar development market.
Chicago-based Hecate has renewables pipeline of more than 40GW, of which 16.8GW corresponds to PV and storage projects at an advanced stage of development. Most of its assets are located in US electricity markets that are expected to grow significantly in the next decade due to states’ emissions reduction targets.