Business

Hull Street Energy acquires 80-MW Summersville hydroelectric facility in West Virginia

Hull Street Energy acquires 80-MW Summersville hydroelectric facility in West Virginia

Hull Street Energy has acquired 100% of the interests in Gauley River Power Partners LLC, which operates the 80-MW Summersville hydroelectric generating facility in Summersville, W.Va., from Enel Green Power North America and GE Energy Financial Services.

The project is on the Gauley River.

This transaction was completed pursuant to a purchase and sale agreement that was executed by Hull Street Energy for the acquisition of 31 hydroelectric stations from EGPNA Renewable Energy Partners LLC, a joint venture between Enel Green Power North America and GE Energy Financial Services. Thirty of the purchased plants were conveyed in January 2020. 

With this final closing, Hull Street Energy affiliates own 52 power generation stations providing 900 MW of renewable, gas-fired and dual-fueled generation capacity to support grid operations throughout the U.S.

Baker Botts LLP acted as legal counsel to Hull Street Energy. 

Hull Street Energy is a private equity firm that specializes in deploying capital into the power sector as it transitions to a more sustainable future. The company is headquartered in Bethesda, Md.