US renewables developer Hecate Energy has announced plans to list on the Nasdaq stock exchange from “mid-2026”.
The listing will be executed through a definitive business combination agreement with special-purpose acquisition company (SPAC) EGH Acquisition Corp (EGH). Once public, Hecate will list on Nasdaq under the ticker “HCTE”.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
The transaction also values Hecate at a pre-money enterprise value of US$1.2 billion, with EGH’s trust account providing up to US$155 million for the development of Hecate’s utility-scale energy park portfolio, any EGH shareholder redemptions, and transaction expenses.
Hecate’s management team will lead the combined company, while Hecate’s shareholders will retain 100% of their equity holdings into the public company.
Unanimously approved by the board of directors from both companies, the transaction is expected to be finalised in mid-2026.
Chris Bullinger, President and CEO of Hecate, said: “Access to the public capital markets will strengthen our ability to accelerate project development and monetisation, while providing the flexibility to evolve into an Independent Power Producer and generate long-term, recurring cash flows. A publicly traded platform also enhances our ability to attract institutional investors while building the energy infrastructure required to support the nation’s rapidly growing power needs.”
Hecate develops utility-scale solar PV, battery storage, wind and thermal generation across 26 states. Since its inception in 2012, the company has 5GW of projects either operational or under construction, with an overall renewable energy development pipeline of 47GW.
Moreover, the company sold more than 12GW of projects to different groups of blue-chip companies and has over 4GW of projects that are currently under exclusivity or advanced negotiations for sale.
