Hull Street Energy sells its interest in Central Rivers Power representing 334MW of hydroelectric facilities.
An ambitious project
Hull Street Energy sells its interest in Central Rivers Power, which operates in 11 states and six North American electric control areas. The company sells its stake to LS Power. This decision is part of its strategy to invest in infrastructure related to the energy transition.
The company was beginning to acquire and improve the hydro portfolio in 2017. Clean energy from the 42 operating plants and various expansion opportunities will be an important resource. Indeed, the facilities will be part of ambitious decarbonization targets for different regions.
An expected transaction
Sarah Wright, Associate Director of Hull Street Energy, states:
“We are grateful to the employees of Central Rivers, who have been great partners in building a leading U.S. hydroelectric generation company that provides zero-carbon energy, supports local economies and builds grid resiliency. We look forward to seeing the company grow with the energy transition underway.”
The transaction is expected to close early next year, subject to the satisfaction of certain closing conditions. In addition, Centerview Partners acted as exclusive financial advisor to the company
Hull Street Energy is a private equity firm specializing in deploying capital in the energy sector. Based in Maryland, it has unique experience in the U.S. electrical infrastructure. The company is gradually redeploying in the decarbonized energy sector
