May 6, 2025

Repsol set to buy remaining stake in Hecate Energy as part of U.S. expansion

The deal strengthens Repsol’s position in California’s energy storage market and moves it closer to its goal of reaching over 2 GW of U.S. assets by 2025.

Project Greenlight: Repsol Renewables North America Inc., a subsidiary of the Spanish energy giant Repsol SA, is approved to acquire the remaining 60% stake in Hecate Energy Group LLC from Hecate Holdings LLC, according to a May 2 order from FERC. The acquisition builds upon Repsol's existing 40% ownership in Hecate Energy and aligns with its broader strategy to expand ...

Details:

Filing Date: May 2, 2025

Docket Numbers:

EC25-60

Short Summary:

Repsol Renewables North America Inc., a subsidiary of the Spanish energy giant Repsol SA, is approved to acquire the remaining 60% stake in Hecate Energy Group LLC from Hecate Holdings LLC, according to a May 2 order from FERC. The acquisition builds upon Repsol’s existing 40% ownership in Hecate Energy and aligns with its broader strategy to expand its renewable energy portfolio.

Impact Level:

Categories:

Dealmaking & Transactions

Tags: Acquisitions & Dispositions, Battery Storage

Entities: Hecate Energy, Repsol SA

Markets: California ISO (CAISO)

Regions: West

States: California

Regulators: FERC

Courts:

Documents:

Acquisition & Disposition – Application – Order Approving