Hull Street Energy has finalised an agreement to pay an undisclosed sum for a 100 per cent stake in Sunrise Power Holdings. The stake was purchased from Generation Bridge Acquisition, an ArcLight Capital Partners affiliate. Fellows, California’s Sunrise natural gas-fired facility is capable of producing 586 MW of energy. It serves the Central Valley of the state.
The agreement will assist the company in ensuring grid resilience while also allowing the integration of new variable renewable energy resources as the state tries to meet its climate commitments. After the transaction is completed, its affiliates will be the owners of over 1.5 GW of gas-fired and dual-fuel generation capacity. Hull Street Energy’s legal counsel was Troutman Pepper, and Generation Bridge’s legal counsel was Milbank.
LS Power agreed to acquire 42 run-of-river hydropower facilities in the US from Hull Street Energy. The hydroelectric plants, which are spread across 11 US states, have a total 334 MW capacity. Of these, 48 MW are operated by the New York Independent System Operator (NYISO), and 152 MW are located in New England and 86 MW in the Pennsylvania-New Jersey-Maryland (PJM) region.
