Newly formed distributed energy developer HK Power formally announced its launch.
Founded by industry veterans Josh Hotvet and Omar Khaleel, the company will specialize in the acquisition and development of large distribution-scale solar, solar+storage, and standalone storage solutions nationwide.
HK Power will focus on acquiring early-stage projects and carrying them through the development process to ready-to-build.
“Distributed solar and storage assets deliver real value — to the grid, to the communities that host them, and to the capital partners who back them. We’re focused on developing projects that perform across every one of those dimensions, not just at closing,” said Omar Khaleel, Co-founder and COO, HK Power, in a statement.
The company is backed by Apricus Generation, a strategic holding platform for independently managed distributed energy businesses. It will provide capital, transaction structuring, and strategic execution support.
Gautam Chandra, CEO, Apricus Generation, added, “Josh and Omar represent exactly the kind of founders Apricus was built to back — experienced, disciplined, and deeply aligned with the long-term value creation thesis we share. HK Power adds meaningful capabilities to the Apricus platform at precisely the right moment in the distributed energy market.”
HK Power was advised by Akin Gump Strauss Hauer & Field LLP on the transaction; Apricus Generation was advised by Foley & Lardner LLP.
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