ENEL,GE JV Trades US Hydro Portfolio Worth 255-MW to Hull Street Energy

The agreement calls for EGPNA Renewable Energy Partners (EGPNA REP) to trade the said plants in two phases, beginning with the transfer of 30 assets totaling 175 MW in a transaction that closed last week. The second phase will see Hull Street Energy procure the enduring 80 MW of capacity by the end of this quarter

February 03, 2020. By News Bureau

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Hull Street Energy has announced that it has completed a deal to buy a 255-MW portfolio of 31 hydroelectric facilities from a joint venture between Enel Green Power North America and GE Energy Financial Services.

The agreement calls for EGPNA Renewable Energy Partners (EGPNA REP) to trade the said plants in two phases, beginning with the transfer of 30 assets totalling 175 MW in a transaction that closed last week. The second phase will see Hull Street Energy procure the enduring 80 MW of capacity by the end of this quarter.

The acquisition firm said that the plants being acquired supply power to regional electricity customers in the states of Vermont, Washington, Massachusetts, New York, Virginia, South Carolina, Idaho, California, North Carolina, West Virginia and Pennsylvania.

Hull Street Energy did not reveal the value of the complete transaction but said that BNP Paribas Securities Corp performed as sole placement agent and ancillary facility provider on a private placement financing for it. On the other hand, Baker Botts LLP served as legal counsel.

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