Hecate Energy Sells 514 MW Solar Plant to Tokyo Gas America

Hecate Energy has announced the sale of its 514 MW ac Aktina Solar PV power plant located in Wharton County, Texas, to Tokyo Gas America

Hecate Energy (Hecate), one of the largest privately-held independent solar power development companies in the US, has announced the sale of its 514 MW ac Aktina Solar PV power plant located in Wharton County, Texas, to Tokyo Gas America, a wholly-owned subsidiary of Tokyo Gas. The final closing is scheduled for August 5, 2020.

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Upon completion, Aktina Solar is expected to be the largest solar PV project in Texas and one of the largest in the US. The project is scheduled to break ground in Q3 2020, and the first blocks will be operational by Q3 2021. The project will provide reliable clean solar power to the fast-growing Houston market and surrounding area for the coming decades.

The firm stated that the project reinforces Hecate’s strategy to develop large-scale renewable energy projects in strategic locations across the US close to demand centrEs that support grid decarbonisation efforts.

In April, I Squared Capital, through its ISQ Global Infrastructure Fund I, completed the sale of Chenya Energy to Marubeni Corporation. Chenya Energy is a dedicated solar development, construction and operating platform in Taiwan and was a wholly-owned subsidiary of Asia Cube Energy, a pan-Asian renewable portfolio company founded by I Squared Capital in 2017.

“In three years under I Squared Capital’s stewardship, Chenya Energy grew from 2.3 to 344.4 megawatts of solar capacity across multiple technologies, including floating, ground-mounted and rooftop solutions. The company is currently building the world’s largest floating solar project and has grown rapidly to become the largest solar platform in Taiwan,” said Gautam Bhandari, Managing Partner at I Squared Capital.I

n April 2019, the firm had sold 100 percent stake in Amplus Energy Solutions Pte Ltd, a leading Singapore-based company with a portfolio of distributed, renewable energy assets in Asia, to Petroliam Nasional Berhad (Petronas), Malaysia’s fully integrated oil and gas major.

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