Hull Street Energy Acquires California Natural Gas-Fired Plant

News provided by

Jun 22, 2023, 15:43 ET

BETHESDA, Md., June 22, 2023 /PRNewswire/ -- Hull Street Energy ("HSE") has acquired Sunrise Power Holdings, LLC from an affiliate of ArcLight Capital Partners, LLC, Generation Bridge Acquisition, LLC ("Generation Bridge"). Located in Fellows, California, the facility provides 586-megawatts of critical electric generation and Resource Adequacy to consumers, utilities, and Community Choice Aggregators across the State and further demonstrates HSE's support of grid reliability, enabling further integration of new variable renewable energy resources to advance achievement of California's environmental goals.

Including Sunrise, Hull Street Energy affiliates now own 2.3 GW of gas-fired and dual-fueled generation capacity throughout the United States.

The financing for the acquisition was led by Investec as the Initial Bookrunner and Initial Coordinating Lead Arranger. MUFG also acted as Joint Bookrunner and Coordinating Lead Arranger with Deutsche Bank as Coordinating Lead Arranger.

Troutman Pepper acted as legal counsel to Hull Street Energy. Milbank acted as legal counsel to Generation Bridge.

About Hull Street Energy, LLC
Hull Street Energy is a private equity firm that specializes in deploying capital into the power sector as it decarbonizes. Headquartered in Bethesda, Maryland, the team leverages its decades of experience and unique knowledge of North American electricity infrastructure, fundamentals and grid operations, including fuel inputs, commodity contract structuring, renewable and fossil powered generation assets, energy storage, transmission and distribution systems, and electricity demand-side businesses to build value for stakeholders. For further information about Hull Street Energy please see www.hullstreetenergy.com.

About Milepost Power
Milepost Power owns and manages flexible, dependable and clean natural gas and dual-fuel electric generating plants in North America, providing electricity and critical reliability service to the grid. Its power plants and analytically driven risk management protocols position the company to play an increasingly important role as the industry transitions to include more renewable generation resources. Milepost Power is an affiliate of Hull Street Energy. For further information please see www.milepostpower.com.

Media Contact:
press@hullstreetenergy.com

About ArcLight
ArcLight Capital Partners, LLC is an experienced, middle-market, value added infrastructure investment firm. Founded in 2001, ArcLight helped establish infrastructure as an asset class by pioneering an asset-based private equity approach to investing in infrastructure and has since built an experienced and successful investment platform. Based in Boston, ArcLight's investment team employs a value-added, operationally intensive investment approach that benefits from its dedicated in-house technical, operational, and commercial specialists and partners, as well as the firm's approximately 1,800-person asset management operational partner. More information about ArcLight can be found at www.arclight.com.

SOURCE Hull Street Energy