Bethesda, MD /PRNewswire/ - Hull Street Energy announced today that it has entered into a definitive agreement to acquire 100% of the ownership interests in the Waterbury Generation facility from a subsidiary of ENGIE North America. The facility is in Waterbury, Connecticut and provides 96 megawatts of flexible, fast start natural gas power generation capacity to the New England region.
The Waterbury facility and employees will be high-quality additions to Hull Street Energy's portfolio of critical power infrastructure. Through this acquisition, the firm will be able to help support the state, local community and other stakeholders integrate new variable renewable energy resources and meet regional reliability standards, as New England states work to achieve their climate and renewable energy goals.
Upon closing this transaction, Hull Street Energy affiliates will own 53 power generation stations providing over 1,000 MW of renewable, gas-fired, and dual-fueled generation capacity to support grid operations throughout the United States.
Troutman Pepper 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 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.