Hecate Energy has begun construction on two solar projects totaling 600 MW. 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.
The 500 MW Roseland Solar project, one of the largest projects under construction in Texas, will be combined with a 50 MW battery storage system. The hybrid power facility commenced construction on May 5 and is expected to achieve commercial operation in the third quarter of 2022. Hecate developed the project and entered an agreement with a major European producer of renewable energy who will oversee construction and operation of the project.
“Hecate Energy is proud to play a part in building a renewable energy future for Texas,” said Hecate Energy’s Senior Vice President of Operations, Craig Overmyer. “The combination of reliable, resilient, emission-free solar power and battery storage will enable the Roseland project to help stabilize the power grid, increase operational efficiency, and lower power costs.”
The 100 MW Highland Solar project consists of two separate solar facilities in Highland County, Ohio. The project broke ground on May 13, with the first of the projects expected to achieve commercial operation in December 2021. The projects will supply 100% of the City of Cincinnati’s municipal electricity. This will make all buildings and electrical services owned and operated by the government of Cincinnati carbon neutral by the end of 2021.
“Hecate Energy is at the forefront of transitioning our electric system to emission-free renewable energy. The New Market Solar project in partnership with the City of Cincinnati is leading progress toward a zero-carbon future in Ohio,” said Patti Shorr, Hecate’s Senior Vice President of Development.
On May 12, Repsol and Hecate Energy signed an agreement for Repsol to acquire a 40% stake in Hecate Energy. The acquisition is Repsol’s first investment into the U.S. renewable energy market.
“This partnership supports Hecate Energy as one of the leading renewable energy developers in the United States. We are pleased to align ourselves with a major global energy company that is leading the transition to a multi-energy future,” Hecate Energy Chairman David Tohir said.
“With this acquisition we enter the U.S. renewable market with the best possible partner and advance our strategic objective of becoming a global low-emissions operator. We continue to demonstrate our commitment to multi-energy and move forward with the transformation of Repsol into a net zero emissions company,” Repsol’s Executive Managing Director of Client and Low-carbon Generation María Victoria Zingoni said.Tags: Hecate Energy, mergers and acquisitions, Ohio, Repsol, Texas