Hull Street Energy, a Bethesda-based middle-market investment firm specializing in energy transition and electrification, Wednesday agreed to sell its interests in Central Rivers Power, a 334 MW portfolio of hydroelectric facilities located in 11 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.
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 adviser to Hull Street Energy. Baker Botts L.L.P. acted as legal counsel to Hull Street Energy.