Hull Street Energy has acquired Gauley River Power Partners LLC, an operator of a hydroelectric generating facility in Summersville, West Virginia. The sellers were Enel Green Power North America and GE Energy Financial Services. No financial terms were disclosed.
BETHESDA, Md., May 11, 2020 /PRNewswire/ — Hull Street Energy has acquired 100% of the interests in Gauley River Power Partners, LLC, which operates an 80 megawatt hydroelectric generating facility in Summersville, West Virginia, from Enel Green Power North America and GE Energy Financial Services. The facility supplies reliable, zero-carbon energy to customers in the Mid-Atlantic region.
This transaction was completed pursuant to a purchase and sale agreement that was executed by Hull Street Energy for the acquisition of thirty-one hydroelectric stations from EGPNA Renewable Energy Partners, LLC, a joint venture between Enel Green Power North America and GE Energy Financial Services, thirty of which were conveyed in January of this year.
With this final closing, Hull Street Energy affiliates own fifty-two power generation stations providing 900 MW of renewable, gas-fired, and dual-fueled generation capacity to support grid operations throughout the United States.
Baker Botts LLP acted as legal counsel to Hull Street Energy.
About Hull Street Energy, LLC
Hull Street Energy is a private equity firm that specializes in deploying capital into the power sector as it transitions to a more sustainable future. 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.