Hull Street Energy has completed its acquisition of FirstLight’s US generation business from the Public Sector Pension Investment Board (PSP Investments), adding nearly 1400MW of capacity in the northeastern US.
The portfolio includes Northfield Mountain pumped storage facility in Massachusetts and 14 hydroelectric stations across Connecticut, Massachusetts and Pennsylvania. Three operating solar and battery facilities in the Northeast were also included in the deal, which Hull Street Energy announced on 2 November.
“FirstLight represents an important addition to our portfolio and underscores our conviction that firm, clean resources like FirstLight’s hydropower and energy storage facilities will play an increasingly vital role in the Northeast’s evolving energy landscape,” said Sarah Wright, founder and managing partner of Hull Street Energy. “We see tremendous opportunity in the hydro sector and look forward to combining HSE’s experience and expertise with FirstLight’s high-quality assets and innovative team to deliver value to the communities and markets we serve.”
“We are incredibly proud of the strong business our team has built at FirstLight through a commitment to operational excellence and a focus on delivering clean energy solutions that support grid reliability,” said Justin Trudell, president and CEO of FirstLight. “We look forward to continuing to lead the business in the Northeast and build on our success in partnership with Hull Street Energy.”
Troutman Pepper Locke and DLA Piper acted as legal counsel to Hull Street Energy. The deal was first announced in May.
