BETHESDA, Md., Nov. 16, 2022 /PRNewswire/ -- Hull Street Energy, a middle market investment firm specializing in energy transition and electrification, has agreed to sell its interests in Central Rivers Power, a 334 MW portfolio of hydroelectric facilities located in eleven states and six different North American electric control areas, to LS Power. As part of its strategy to invest in energy transition related infrastructure, Hull Street Energy began acquiring and improving the hydroelectric plant portfolio in 2017. Clean energy produced by the 42 operating stations and various expansion opportunities will be an important, long-term resource for many regions targeting ambitious decarbonization goals.
"We are grateful to the Central Rivers employees, who have been excellent partners in building a premier U.S. hydroelectric generation company providing zero-carbon power, supporting local economies, and strengthening grid resiliency. We look forward to seeing the business grow with the ongoing energy transition," said Sarah Wright, Managing Partner of Hull Street Energy.
The transaction is expected to close early next year, subject to the satisfaction of certain closing conditions and regulatory approvals.
Centerview Partners acted as exclusive financial advisor to Hull Street Energy.
Baker Botts L.L.P. acted as legal counsel to Hull Street Energy.
Hull Street Energy is a private equity firm that specializes in deploying capital into the power sector as it decarbonizes. Headquartered in Bethesda, Maryland, the team leverages its decades of experience and unique knowledge of North American electricity infrastructure, fundamentals and grid operations, including fuel inputs, commodity contract structuring, renewable and fossil powered generation assets, energy storage, transmission and distribution systems, and electricity demand-side businesses to build value for stakeholders. For further information about Hull Street Energy please see www.hullstreetenergy.com.
Central Rivers Power owns and operates 42 hydroelectric power plants with a combined installed capacity of 334 megawatts across the United States. In total, Central Rivers Power produces about 1.25 million megawatt-hours of clean energy annually, offsetting greenhouse gas emissions equivalent to the emissions of 192,000 passenger vehicles. Central Rivers Power is an affiliate of Hull Street Energy. For more information visit www.centralriverspower.com.
SOURCE Hull Street Energy
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