A recently formed affiliate of Hull Street Energy has completed the acquisition of 100% of the ownership interests in Nautilus Hydro, LLC from funds managed by affiliates of The Carlyle Group, adding 18MW from five hydro facilities in Massachusetts to its New England portfolio.

A recently formed affiliate of Hull Street Energy has completed the acquisition of 100% of the ownership interests in Nautilus Hydro, LLC from funds managed by affiliates of The Carlyle Group, adding 18MW from five hydro facilities in Massachusetts to its New England portfolio.

Carlyle acquired the Nautilus Hydro facilities in June 2016 with its acquisition of the Nautilus Power portfolio (formerly Essential Power) and its subsidiaries.  Since Carlyle's acquisition, Cogentrix Energy Power Management, LLC , Carlyle's affiliated independent power producer, has overseen the plants' management, operations and maintenance.  Cogentrix has agreed to support a transition to Hull Street Energy's asset management group over the next several months.

Hull Street Energy acquired Nautilus Hydro as part of its strategy to build and grow a significant presence in the North American power sector.  Collectively, Hull Street portfolio companies now own and operate approximately 465MW of strategically positioned generation assets located in Massachusetts, Connecticut, Rhode Island, New Jersey and Montana.

Manatt, Phelps & Phillips, LLP acted as legal counsel to Hull Street Energy and Chadbourne & Parke LLP acted as legal counsel to Carlyle and Cogentrix on the transaction.