Bethesda firm acquires Texas natural gas-fired power plant portfolio

Daily Record Staff//June 6, 2023

An aerial view of Paris Energy Center in Paris, Texas, acquired Tuesday by Bethesda-based private equity firm Hull Street Energy. (PRNewswire photo/Hull Street Energy)

By Daily Record Staff

//June 6, 2023

Bethesda-based private equity firm Hull Street Energy has acquired 100% of the Bastrop Energy Center and Paris Energy Center power plants from Mesquite Generation Holdings LLC, an affiliate of Atlas Holdings.

These facilities are in Bastrop and Paris, Texas, and provide 855 megawatts of critical power generation and reliability services to the Texas grid.

Following this transaction and the planned acquisition of Sunrise Power Holdings LLC, which owns a 586-megawatt power plant in Bakersfield California, Hull Street Energy affiliates will own approximately 2,300 megawatts of strategically located gas-fired and dual-fueled generation capacity, enhancing electric reliability throughout the United States.

Troutman Pepper acted as legal counsel to Hull Street Energy. King and Spalding and Houlihan Lokey acted as legal counsel and financial adviser to Atlas, respectively.

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