Hull Street Energy has agreed to acquire FirstLight USA from the Public Sector Pension Investment Board, adding nearly 1,400MW of clean generation across the Northeast. The portfolio includes Northfield Mountain, a 1,168MW pumped storage hydro facility in Massachusetts, currently the largest energy storage asset in New England, plus 14 hydro stations and three solar and battery facilities.
The deal is aimed at preserving and optimising long-duration, dispatchable clean resources at a time when New England is facing reliability pressure from retiring generation and rising demand. Hull Street says assets like Northfield Mountain are important for grid stability, affordability and the integration of new clean energy.
FirstLight’s leadership said the business has built a strong operating record and that the partnership will support its next phase of growth. If completed, the transaction would give Hull Street Energy a larger hydropower platform, with about 1,200MW of flexible pumped storage and nearly 400MW of hydroelectric capacity across its fleet.
The acquisition still needs federal regulatory approval and is expected to close later this year.
