Hull Street Energy has agreed to acquire thirty-one hydroelectric facilities from EGPNA Renewable Energy Partners. No financial terms were disclosed. The plants supply low-carbon energy to regional electricity customers in Vermont, Washington, Massachusetts, New York, Virginia, South Carolina, Idaho, California, North Carolina, West Virginia and Pennsylvania.
BETHESDA, Md., Jan. 31, 2020 /PRNewswire/ — Hull Street Energy has signed an agreement to acquire thirty-one hydroelectric facilities with 255 MW of capacity from EGPNA Renewable Energy Partners (EGPNA REP), a joint venture between Enel Green Power North America and GE Energy Financial Services. The transaction will close in two phases. The first phase, which closed this week, includes thirty hydro projects totaling 175 MW. The second phase, which includes the remaining 80 MW of capacity, is expected to close during the first quarter of 2020, pending regulatory approval. The plants supply reliable, low-carbon energy to regional electricity customers in Vermont, Washington, Massachusetts, New York, Virginia, South Carolina, Idaho, California, North Carolina, West Virginia and Pennsylvania.
Hull Street Energy affiliates own fifty-one power generation stations providing more than 815 MW of renewable, gas-fired, and dual-fueled generation capacity to support grid operations throughout the United States.
BNP Paribas Securities Corp. served as sole placement agent and ancillary facility provider on a private placement financing for the transaction, and Baker Botts LLP acted as legal counsel to Hull Street Energy.
About Hull Street Energy
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.