Hecate Energy announces 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.

Roseland Solar & Storage (Falls County, Texas)

The 500 megawatt Roseland Solar project, one of the largest projects under construction in Texas, will be combined with a 50 megawatt battery storage system. The hybrid power facility commenced construction on May 5, and is expected to achieve commercial operation in Q3 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.”

Highland 2 & 4 New Market Solar / (Highland County, Ohio)

The 100 megawatt Highland Solar project consists of two separate solar facilities in Highland County, located 45 miles east of Cincinnati. 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 this year.

“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.

Repsol Investment

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.

Guggenheim Securities, LLC acted as exclusive financial advisor and placement agent to Hecate Energy in connection with the transaction. Legal and accounting services were provided to Hecate Energy by international law firm Winston & Strawn LLP, and the major accountancy firm CliftonLarsonAllen LLP.

Hecate Energy’s portfolio of renewable projects totals more than 40 gigawatts, including 16.8 gigawatts of solar projects and energy storage at advanced stages of development.

KeyFacts Energy: Renewable Energy news