PVTIME – The power-focused investment firm Hull Street Energy has finalised its acquisition of FirstLight’s US energy generation portfolio from the Public Sector Pension Investment Board. This significant transaction provides nearly 1,400MW of operational clean energy capacity located across the northeastern United States.
The diverse asset portfolio focuses on the 1,168MW Northfield Mountain pumped-hydro installation in Massachusetts, the largest energy storage site in New England. It also incorporates 14 conventional hydroelectric plants spread across Connecticut, Massachusetts, and Pennsylvania, as well as three completed solar-plus-battery installations within the same regional market.
The enlarged portfolio strengthens Hull Street Energy’s exposure to firm, low-carbon resources, which are becoming increasingly important for the evolving power network in the Northeast. Hull Street Energy intends to draw upon its in-house operational knowledge while retaining FirstLight’s established workforce to maximise long-term asset performance and deliver value for local communities and wholesale power markets. Troutman Pepper Locke and DLA Piper provided legal advisory services for the acquisition.
