The cogeneration facility has been operating since 1996 in Crockett, California
The acquisition of the Crockett plant will expand the portfolio of Hull Street Energy’s power generation facilities to 53. (Credit: cwizner from Pixabay)
Hull Street Energy has agreed to acquire a stake of 91.7% in the 240MW Crockett natural gas fired power plant in California from BlackRock’s Global Energy & Power Infrastructure Fund I.
The financial terms of the deal were not disclosed.
The cogeneration facility, which is located in Crockett, produces electricity and steam to the Bay Area. It has been operating since 1996.
According to Hull Street Energy, the Crockett power plant and its experienced workforce will be a quality addition to Milepost Power, the company’s critical power infrastructure business division.
Milepost Power owns and manages flexible and clean natural gas and dual fuel electric generating plants in North America to supply electricity and critical reliability service to the grid.
Following the acquisition, Hull Street Energy will continue supporting regional reliability standards to allow for the integration of new variable renewable energy resources as California works to reach its climate goals.
With the addition of the facility, Hull Street Energy affiliates will own 53 power generation stations across the US. Put together, these assets provide more than 1.2GW of renewable, gas-fired, and dual-fuelled generation capacity.
The legal counsel for Hull Street Energy in the deal was Troutman Pepper.
Last month, the company signed a deal to buy the 84MW AL Pierce generation facility from the Connecticut Municipal Electric Energy Cooperative for an undisclosed price.
Located in Wallingford, Connecticut, the dual-fuelled power generation facility caters to the New England region.
In February last year, the company signed an agreement with Enel Green Power North America Renewable Energy Partners (EGPNA REP) to acquire 31 hydroelectric facilities with 255MW capacity.