Located in Bastrop and Paris, Texas, the facilities provide 855 megawatts of critical power generation and reliability services to the Texas grid
Hull Street Energy to acquire Texas natural gas-fired power plant portfolio from Atlas. (Credit: Hull Street Energy/PR Newswire)
Hull Street Energy (“Hull Street”) and Atlas Holdings (“Atlas”) announced today the signing of a definitive agreement for Hull Street to acquire 100% of the Bastrop Energy Center and Paris Energy Center power plants from Mesquite Generation Holdings LLC, an affiliate of Atlas. Located in Bastrop and Paris, Texas, the facilities provide 855 megawatts of critical power generation and reliability services to the Texas grid.
“We are thrilled to be acquiring these high-quality, winterized power plants with a track record of operational excellence,” said Edward Quinn, Chief Executive Officer of Milepost Power, Hull Street Energy’s thermal power infrastructure business unit. “We look forward to working with the employees and other regional stakeholders to enhance the resiliency and reliability of power service for regional customers as the intermittent renewable fleet grows.”
Upon close of this transaction and the recently announced planned acquisition of Sunrise Power Holdings LLC, which owns a 586 megawatt power plant in Bakersfield California, Hull Street Energy affiliates will own approximately 2,300 megawatts of strategically located gas-fired and dual-fueled generation capacity, which will provide meaningful reliability support to grid operations, throughout the United States.
Troutman Pepper acted as legal counsel to Hull Street Energy. King and Spalding and Houlihan Lokey acted as legal counsel and financial adviser to Atlas, respectively.
Source: Company Press Release