Hecate Energy, InfraRed Capital Partners start new energy storage company

By Conor Ryan
Share on linkedin
Share on twitter
Share on reddit
Share on facebook
Share on email
InfraRed will supply funding for the new company, which will be headquartered in Chicago. Image: Roman Boed / Flickr

Hecate Energy and InfraRed Capital Partners have announced a partnership to form a new energy storage company called Hecate Grid, which will develop, build, own and operate utility-scale energy storage projects across North America.

Hecate has also contributed its existing energy storage portfolio, featuring 126MW of operating and contracted assets, along with 600 MWh of projects in the company’s pipeline. InfraRed will supply funding for the new company, which will be headquartered in Chicago and will feature Dan Walker as CEO.

Walker is a leading expert in wholesale electricity markets, having worked in eight of the nine North American ISO/RTO regions and co-founded several successful energy-related companies.

Walker noted: “Hecate Grid is the perfect combination of a proven and experienced development team joining forces with smart capital, allowing us to take advantage of a tremendous market opportunity.”

Chris Bullinger, president & CEO of Hecate Energy, said: “In partnership with InfraRed, we are now positioned to grow our new affiliate company, Hecate Grid, into the foremost grid-scale energy storage developer and operator in North America.”

Read Next

January 18, 2022
Energy storage will play an important role in US power systems between now and 2050, offering the opportunity to displace fossil fuels with low-cost renewable energy and balancing supply and demand across multiple regions. 
December 29, 2021
While we’re waiting to get started up for what looks like being a busier year than ever in 2022, let’s look back as we reveal the most-read blogs and features for 2021.
December 20, 2021
Bringing you the thoughts of leaders from across the industry in our series of end-of-year blogs.
December 14, 2021
In the third quarter of 2021, almost as much energy storage was deployed in the US as was recorded for the whole of 2020, when the industry surpassed a gigawatt of installations for the first time ever. 
December 1, 2021
Supply chain shocks are causing short-term rises in the price of lithium-ion battery packs, but overall the price trend is downward and by 2024 average prices could dip below US$100/kWh.

Most Popular

Email Newsletter