Hecate Energy Group, a US energy infrastructure developer, will list on Nasdaq under the ticker HCTE through a merger with SPAC EGH Acquisition, at an implied enterprise value of $1.2 billion (€1.01bn).

The deal is expected to close mid-2026, subject to shareholder and regulatory approvals.

Founded in 2012, Hecate develops utility-scale energy parks spanning solar, battery storage, wind, and thermal generation across 26 states, representing more than 47GW of projects. The company has sold over 12GW of projects and maintains more than 4GW under exclusivity or advanced sale discussions.

The SPAC merger will provide up to $155 million (€131.07m) from EGH’s trust account to support the development of Hecate’s energy park portfolio, covering shareholder redemptions and transaction expenses. Existing shareholders intend to retain all equity, with lock-up agreements in place for management and certain investors.

Hecate Energy President and CEO Chris Bullinger said the transaction represents a “transformational milestone” that will enhance access to public capital markets, accelerate project development, and provide flexibility to operate as an independent power producer, generating long-term recurring cash flows.

EGH CEO Drew Lipsher added that Hecate’s extensive portfolio and experienced team position the company to meet rising demand for reliable power from data centres, hyperscalers, and other large energy consumers, enabling the creation of meaningful long-term value.

Upon closing, Hecate Energy’s current management team will continue to lead the expanded company, which aims to capitalise on increasing US demand for renewable and low-carbon energy solutions.

See the full transaction details and strategic outlook in the complete article.