The deal will close in two phases, where the first phase will include 30 projects totaling 175MW and the second phase includes 80MW
Bethesda, Maryland-headquartered Hull Street Energy has signed an agreement to acquire 31 hydroelectric facilities with 255MW capacity from Enel Green Power North America Renewable Energy Partners (EGPNA REP), for an undisclosed amount.
EGPNA REP is a joint venture between Enel Green Power North America and GE Energy Financial Services. The deal will close in two phases, where the first phase includes thirty hydro projects totaling 175MW, which is already closed and the second phase includes the remaining 80MW capacity, which is expected to close in this first quarter. The second phase requires regulatory approval.
The 31 hydroelectric plants supply low-carbon energy to regional electricity customers across Vermont, Washington, Massachusetts, New York, Virginia, South Carolina, Idaho, California, North Carolina, West Virginia and Pennsylvania.
Hull Street Energy owns 51 power projects, with over 815MW in capacity
Hull Street Energy’s affiliates own 51 power generation stations generating more than 815MW in renewable, gas-fired and dual-fueled generation capacity, supporting grid operations across the US.
Last year, the company had acquired the Bayswater and Jamaica Bay two natural gas-fired electric generating stations from NextEra Energy Resources. Located in Far Rockaway, New York, the two facilities generate up to 110MW.
In August 2018, Hull Street Energy had acquired New Hampshire hydroelectric facilities from Eversource, totalling 68.2MW capacity for $83m.
These include the 16MW Amoskeag Hydro in Manchester, the 8.4MW Ayers Island Hydro in Bristol, the 1.1MW Canaan Hydro in West Stewartstown, the 6.4MW Eastman Falls Hydro in Franklin, the 12.1MW Garvins Falls Hydro in Bow, the 2.2MW Gorham Hydro in Gorham, the 1.6MW Hooksett Hydro in Hooksett, the 3.2MW Jackman Hydro in Hillsborough, the 17.2MW Smith Hydro in Berlin.
And, in June 2017 the company acquired 100% ownership of Nautilus Hydro from Carlyle Group. At the time of the transaction, Nautilus Hydro owned five hydroelectric generation facilities located in Massachusetts on the Chicopee and Deerfield Rivers.