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US: Repsol enters the U S renewables market

Repsol has signed an agreement to acquire 40% of Hecate Energy, a U.S. company specializing in the development of PV solar and battery projects for energy storage. This transaction is Repsol s first foray into the U.S. renewables market.

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Repsol enters US PV market with Hecate stake

Repsol enters US PV market with Hecate stake
renews.biz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from renews.biz Daily Mail and Mail on Sunday newspapers.

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Repsol enters US renewables market with investment in solar developer 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.

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Repsol targets solar and battery storage drive with maiden US renewables splash

13 May 2021 8:10 GMT Updated 13 May 2021 10:08 GMT in Perth Spanish giant Repsol has made its first entry into the US renewables market via the acquisition of a 40% interest in solar and battery storage project developer Hecate Energy. ENERGY EXPLORED: SUBSCRIBE TO ACCELERATE Gain valuable insight into the global oil and gas industry s energy transition from Repsol did not provide financial details of the transaction, however, it noted it also had the option to acquire Hecate’s outstanding shares three years after the closing of the deal. Hecate holds a portfolio of more than 40 gigawatts of renewable and energy storage projects that are under development, including 16.8GW of solar projects at advanced stages of development, as well as Hecate Grid a battery platform for energy storage with a capacity of 4.3GW.

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Repsol asalta el sector de las renovables de Estados Unidos con la compra del 40% de Hecate Energy

Repsol asalta el sector de las renovables de Estados Unidos con la compra del 40% de Hecate Energy
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