Hull Street Energy has acquired Foundation Solar Partners’ management team and development pipeline. No financial terms were disclosed. Foundation Solar Partners is a renewable development company.
BETHESDA, Md., July 7, 2021 /PRNewswire/ — Hull Street Energy announced today that it has acquired the management team and development pipeline of Foundation Solar Partners, an independent renewable development company that specializes in identifying and developing utility-scale solar generation projects in select markets in the eastern United States.
Foundation Solar Partners was established in 2019 by a team of accomplished industry veterans and to date has developed and sold 1GW of solar projects in the PJM transmission territory.
With this acquisition, Hull Street Energy has added strategic scale to its holdings of critical power infrastructure required to support decarbonization of the North American energy economy. Through affiliates, the firm will own 52 power generation stations providing 900 MW of renewable, gas-fired, and dual-fueled generation capacity, in addition to the growing Foundation Solar Partners development project portfolio, to support transitioning grid operations throughout the United States.
Baker Botts LLP acted as legal counsel to Hull Street Energy and The Law Office of Jon Staley acted as legal counsel to Foundation Solar Partners.
About Hull Street Energy, LLC
Hull Street Energy is a private equity firm that specializes in deploying capital into the power sector as it decarbonizes. Headquartered in Bethesda, Maryland, the team leverages its decades of experience and unique knowledge of North American electricity infrastructure, fundamentals and grid operations, including fuel inputs, commodity contract structuring, renewable and fossil powered generation assets, energy storage, transmission and distribution systems, and electricity demand-side businesses to build value for stakeholders. For further information about Hull Street Energy please see www.hullstreetenergy.com.
About Foundation Solar Partners
Foundation Solar Partners is an independent solar resource development company headquartered in Washington, DC which takes a collaborative approach to working with landowners, utilities and local communities to develop utility-scale projects in the eastern United States.