HEC JSC

Solar EPC Serviceshec.global

Company typePrivate
Founded2006
HeadquartersBlagoevgrad, Bulgaria
Headcount251–500
GTM typeB2B
OfferingServices

HEC JSC firmographics

Firmographics

Name: HEC JSC
Legal name: Hydroenergy Company JSC
Website: https://hec.global
Company type: Private
Founded year: 2006
Operating status: Operating
Headcount range: 251–500 employees
Ownership category
akta.pro rank

HEC JSC industry classification

Industry

Product category: Solar EPC Services
akta.pro primary industry: Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG)
akta.pro secondary industries: Solar Balance-of-Plant EPC (Piles/Foundations, Trenching, Combiner Networks) (EUAEADAJ), Balance-of-Plant (BOP) & Civil Works for Power Plants (EUAEAAAL), BESS EPC, Integration & Commissioning (EUAFAAAB), Commercial & Industrial (C&I) BESS EPC & Integration (EUAEAEAB)

Keywords

Solar EPC services
Photovoltaic power plants
Turnkey PV construction
Utility-scale solar
Battery energy storage

Where HEC JSC is headquartered

Location

Headquarters

HQ city: Blagoevgrad
HQ country: Bulgaria
HQ region: Europe

Offices2 records

Markets served

HEC JSC business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

Turnkey Solar Plant Construction: Full-service solar power plant construction contracts covering design, permitting, procurement, civil works, mechanical and electrical installation, and commissioning. Revenue is generated through large-scale project-based contracts with governments, utilities, and private developers.
Operation and Maintenance Services: Ongoing maintenance services for completed solar power plants, providing recurring service revenue from established client relationships.
Procurement of Materials and Equipment: Supply of solar power plant materials and equipment as part of turnkey solutions or as standalone procurement services.

Pricing tiers

Model	Billing	Price
Other	Multi-year contract	Custom Project-Based Pricing

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

HEC JSC product offering

Product offering

Core offering

HEC JSC is a turnkey EPC contractor for utility-scale photovoltaic (PV) solar power plants. It delivers end-to-end project execution spanning site survey, design and engineering, permitting and licensing, procurement of materials and equipment, civil works, mechanical installation (pile driving, structure systems, module installation), electrical installation (cabling, connections, grounding), commissioning and testing, and ongoing maintenance. The company also integrates battery energy storage systems (BESS) to enable solar-plus-storage solutions for clients globally.

Product overview

HEC JSC is a solar power plant construction company that provides end-to-end turn-key solutions for photovoltaic (PV) solar power plants. Their core offering consists of comprehensive construction services spanning the entire project lifecycle: site survey, engineering design and technical support, permitting and licensing, procurement and supply of materials and equipment, civil works, mechanical installation (pile driving, structure systems, solar module installation), electrical installation (cabling, connections, grounding), commissioning and testing, and ongoing maintenance. The company operates globally with completed projects across six continents.

Differentiator

Problem solved

Functional benefit

Products and services

Turnkey Solar Power Plant Construction Services End-to-end EPC service for utility-scale photovoltaic (PV) power plants, covering site survey, design and engineering, permitting and licensing, procurement of materials and equipment, civil works, mechanical installation (pile driving, structure systems, module installation), electrical installation (cabling, connections, grounding), commissioning, and testing. Delivered globally to utilities, large solar developers, corporations, and government entities.
Battery Energy Storage System (BESS) Integration Integration of battery energy storage systems including Energy Storage Cabinet units (Epoch-S100/215-W-WL) at PV power plants, providing flexible management of solar energy production. HEC's first BESS deployment at the Toshevtsi photovoltaic power plant delivered 300 kW maximum charge/discharge power and 645 kWh total storage capacity.
Operation and Maintenance Services for Solar Power Plants Ongoing maintenance and servicing of completed PV power plants, providing recurring service revenue from established client relationships and supporting long-term plant performance.
Procurement of Materials and Equipment for Solar Plants Supply of solar power plant materials and equipment as part of turnkey EPC delivery or as standalone procurement services, including solar modules and balance-of-system components needed for successful PV plant completion.

Quantifiable outcome

2 million tons less carbon emissions annually
+3 more outcomes

Companies that use HEC JSC

Customer profile

Named customers4 records

Segments4 records

Ideal customer profiles3 records

HEC JSC technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature3 records

HEC JSC partnerships and signals

Strategic signal

Partnerships

Four partnerships are on record, tiered core and minor.

European Union / Bulgarian Ministry of InnovationcoreOthers · 18 February 2025HEC won BG-RRP-4.032 funding procedure for 'Support for new power generation capacities from renewable sources and electricity storage' - BGN 395,465 total project value with BGN 197,732.50 grant funding from EU Recovery and Resilience Plan. Project BG-RRP-4.032-0182 for new renewable energy and storage capacities.
APSTEminorOthers · 1 January 2023HEC holds membership in APSTE (Association of Photovoltaic Solar Energy), demonstrating commitment to the solar industry and access to industry resources and networking.
Bulgarian Chamber of Commerce (BCC)minorOthers · 1 January 2023HEC maintains membership in the Bulgarian Chamber of Commerce, supporting domestic business connections and trade activities.
Bulgarian Industrial Energy Association (BCI)minorOthers · 1 January 2023HEC holds membership in the Bulgarian Industrial Energy Association, supporting industry advocacy and energy sector engagement.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

HEC JSC competitors and assessment

Company assessment

Broad incumbents

Lightsource bp: Global utility-scale solar developer and EPC operator with a multi-GW pipeline. Comparable to HEC in project scale and customer base but supported by an integrated oil-major balance sheet.
First Solar: Vertically integrated thin-film solar module manufacturer that also delivers turnkey PV plant solutions. Comparable to HEC in utility-scale PV project delivery but with proprietary technology and a broader global manufacturing footprint.
ACCIONA Energía: Global renewable energy developer and operator with thousands of MW of wind and solar assets. Comparable to HEC as both an EPC counterpart and a customer (El Romero); broader portfolio including wind and generation ownership.

Direct peers

Mortenson Construction: Top-tier US EPC contractor with a dedicated renewable energy group executing wind, solar, and storage projects at utility scale. Comparable to HEC in scope, scale, and enterprise client mix.
ib vogt GmbH: German solar developer and EPC contractor with utility-scale projects across Europe, the Americas, Africa, and Asia-Pacific. Directly comparable to HEC — they are also an HEC customer (Bienvenida 180 MW) — operating in the same turnkey utility-scale PV niche.
SOLV Energy (formerly Borrego Solar): Large US solar EPC and O&M provider executing utility-scale and distributed generation projects. Comparable to HEC across full lifecycle delivery and recurring service revenue.
Sterling and Wilson Solar (now part of Shapoorji Pallonji Group): One of the world's largest pure-play solar EPC contractors, with multi-GW utility-scale project experience across the Middle East, Africa, Asia, and the Americas. Directly comparable to HEC in offering turnkey PV construction services to enterprise and utility clients globally.
BELECTRIC (Elevion Group): Major European-headquartered solar EPC and O&M provider with thousands of MW executed across utility-scale and C&I projects. Closely comparable to HEC in turnkey PV scope, geographic breadth, and storage integration.
Swinerton Renewable Energy: US-based solar EPC contractor with a multi-GW utility-scale track record and significant presence in California, the Southwest, and Latin America. Comparable to HEC in turnkey delivery, project scale, and BESS integration capability.

Regional players

Enviromena Power Systems: UAE-headquartered solar EPC contractor focused on Middle East and North Africa utility-scale projects. Comparable to HEC in turnkey PV EPC scope, with overlapping MENA exposure (Jordan, UAE, Egypt) but a more regional focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

HEC JSC compliance and trust

Trust signal

Compliance4 records

HEC JSC financial estimates

Financial estimate

Revenue estimate

Valuation estimate

HEC JSC leadership team

Management profile

Number of profiles

Profiles8 records

HEC JSC funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

HEC JSC M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HEC JSC

What does HEC JSC do?

Is HEC JSC a public or private company?

HEC JSC is a private company. It is classified as family owned and is currently operating.

When was HEC JSC founded?

HEC JSC was founded in 2006. It employs 251 to 500 people.

Where is HEC JSC based?

HEC JSC is headquartered in Blagoevgrad, Bulgaria, in the Europe region.

How does HEC JSC make money?

Three revenue lines are on record. Turnkey Solar Plant Construction is the primary driver. The others are operation and Maintenance Services and procurement of Materials and Equipment.

Who are HEC JSC's main competitors?

Broad incumbents on record are Lightsource bp, First Solar and ACCIONA Energía. Direct peers are Mortenson Construction, ib vogt GmbH, SOLV Energy (formerly Borrego Solar), Sterling and Wilson Solar (now part of Shapoorji Pallonji Group), BELECTRIC (Elevion Group) and Swinerton Renewable Energy. Enviromena Power Systems is listed as a regional player.

Does HEC JSC have an API?

No public API is recorded for HEC JSC.

What industry is HEC JSC in?

HEC JSC's product category is Solar EPC Services. Its primary akta.pro industry code is EUAEAAAG, Solar PV Power Plant EPC (Utility-Scale), with a secondary code of EUAEADAJ, Solar Balance-of-Plant EPC (Piles/Foundations, Trenching, Combiner Networks).