Repsol Considers Full Acquisition of US Solar Company
- Repsol SA eyes full ownership of Hecate Energy Group LLC, a US solar and storage developer, as discussions for acquisition heat up.
Spanish multi-energy group Repsol SA is considering acquiring the remaining 60% stake in Hecate Energy Group LLC (HEG), a solar and storage project development company in the United States. Repsol currently owns 40% of HEG, having acquired the stake three years ago to enter the US renewables market. The agreement included an option for Repsol to purchase the remaining shares in HEG three years after the initial deal closed, which happened on June 25, 2021.
Hecate Holdings LLC, the current majority owner of HEG, has exercised its put option to sell its 60% stake to Repsol. The two companies are now in discussions regarding the potential acquisition and exploring various transaction alternatives. HEG has a significant pipeline of projects in the US, primarily focused on solar and energy storage, with some wind farm developments in Kentucky as well.
Is Repsol SA acquiring full ownership of Hecate Energy Group LLC in the US?
- Hecate Holdings LLC, the current majority owner of Hecate Energy Group LLC (HEG), has exercised its put option to sell its 60% stake to Repsol SA.
- Repsol currently owns 40% of HEG and is now in discussions with Hecate Holdings LLC regarding the potential acquisition of the remaining 60% stake.
- The two companies are exploring various transaction alternatives for the acquisition.
- Hecate Energy Group LLC has a significant pipeline of projects in the United States, with a focus on solar and energy storage developments, as well as some wind farm projects in Kentucky.
