Hecate Energy has acquired a 40 percent stake in global energy company Repsol.
Repsol is aiming to achieve net-zero emissions by 2050 through enhanced efficiency, increased low-emissions power generation capacity, production of low-carbon fuels, development of new customer solutions and driving breakthrough projects to reduce the industry's carbon footprint.
Hecate said the investment will fund construction and will help bring online a robust portfolio of projects currently under development across the United States, including 16.8 gigawatts of solar projects and energy storage at advanced stages of development.
“Tackling global climate change means accelerating our progress in deploying significant quantities of renewable energy and storage to drive decarbonization of the electric grid,” said David Tohir, chairman of Hecate Energy. “The resources Repsol brings to Hecate will allow us build and bring online more resources in significantly less time.”
