On Wednesday, Hull Street Energy, a middle-market investment firm based in Bethesda that focuses on energy transition and electrification, reached an agreement with LS Power to sell its interests in Central Rivers Power, a portfolio of hydroelectric facilities with a total capacity of 334 MW that is spread across 11 states and six different electric control areas in North America.
The agreement was reached after Hull Street Energy reached out to LS Power about selling its interests in Central Rivers Power.
In 2017, Hull Street Energy began the process of purchasing hydroelectric plants and modernising them. This was a component of their plan to invest in the infrastructure that is associated with the energy transition.
Many areas that want to get rid of carbon emissions as soon as possible will find that the clean energy from the 42 existing stations and the various possibilities to make them larger is a valuable resource for the long term.
The transaction is likely to be finalised in the first few weeks of the new year, provided that the customary closing conditions are satisfied and the required regulatory clearances are obtained.
Hull Street Energy relied solely on Centerview Partners for all of its financial support requirements. Baker Botts L.L.P. was the name of the law company that Hull Street Energy retained to protect its interests.