Core Insights - Hecate Energy Group LLC has successfully closed the sale of its Cereza solar and storage project, which has a capacity of up to 2,000 MW, to Savion, aligning with its strategy to develop and monetize large-scale energy campuses [1][9] - The sale reinforces Hecate's track record of over 12 GW of projects sold and contributes to a revenue backlog exceeding $686 million, showcasing the company's development capabilities and market leadership [2][4] Company Overview - Hecate Energy, headquartered in Chicago, is a prominent U.S. developer of utility-scale energy parks, with a diversified portfolio that includes solar, battery storage, wind, and thermal generation [5] - Since its inception in 2012, the company has developed over 5 GW of projects to construction or operations and has sold more than 12 GW of power plant and storage projects [5][6] Project Development - Hecate secured rights to develop the Cereza project in 2024, which is a utility-scale solar and storage facility located at the Department of Energy's Hanford Site [3] - The sale of the Cereza project highlights Hecate's expertise in executing large, complex energy park projects and its technology-agnostic approach, catering to industrial and data center customers [4] Financial Performance - The transaction adds to Hecate's portfolio of sold projects, now exceeding 12 GW, and enhances its revenue backlog, which reflects the scale and quality of its development pipeline [4] - Hecate has established over 50 power purchase agreements (PPAs) and similar contracts exceeding 6 GW of capacity, indicating strong market demand for its projects [6] Future Prospects - Hecate is in the process of a business combination with EGH Acquisition Corp., which will result in Hecate becoming a public company listed on Nasdaq under the ticker symbol "HCTE" [7]
Hecate Energy Advances Growth Strategy with Sale of up to 2-Gigawatt Cereza Solar and Storage Project