M&A Deal Summary

Birch Creek Energy Acquires Foundation Solar Partners

On March 28, 2023, Birch Creek Energy acquired renewable energy company Foundation Solar Partners from Hull Street Energy

Acquisition Highlights
  • This is Birch Creek Energy’s 1st transaction in the Renewable Energy sector.
  • This is Birch Creek Energy’s 1st transaction in the United States.
  • This is Birch Creek Energy’s 1st transaction in District of Columbia.

M&A Deal Summary
Date 2023-03-28
Target Foundation Solar Partners
Sector Renewable Energy
Buyer(s) Birch Creek Energy
Sellers(s) Hull Street Energy
Deal Type Divestiture

Target

Foundation Solar Partners

Washington, District of Columbia, United States
Foundation Solar Partners is an independent solar resource development company that collaborates with landowners, utilities, and local communities to develop utility-scale projects in the eastern United States. Foundation Solar Partners headquartered in Washington, District of Columbia.

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Buyer(S) 1

Buyer

Birch Creek Energy

St. Louis, Missouri, United States
Category Company
Founded 2019
Sector Renewable Energy
DESCRIPTION

Birch Creek Energy is engaged in the development of more than 8 GW of solar power generation, and storage projects. Birch Creek Energy was founded in 2019 and is based in St. Louis, Missouri.

DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 1 of 1
State (District of Columbia) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1

Seller(S) 1

SELLER

Hull Street Energy

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
Size Small
Type Sector Focused
DESCRIPTION

Hull Street Energy is a private investment firm focused on the energy sector. Hull Street Energy invests in middle-market power companies that are strategically positioned for growth as North American fuel supply, generation, transmission, and behind-the-meter assets transition to support a more sustainable future. Hull Street seeks controlling equity investments in middle market energy opportunities including operating gas fired power plants, operating and late stage development renewable projects, electricity transmission and distribution assets, and demand side resources such as grid optimization, distributed generation, and customer supply businesses. Hull Street Energy was formed in 2014 and is based in Bethesda, Maryland.

DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 1 of 1
State (District of Columbia) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-24 ETEM

Austin, Texas, United States

ETEM is an energy transition and liability transfer company focused on acquiring, remediating, and repurposing fossil-fired electric generation. The company offers generation owners a full and final transfer of all the risks and liabilities associated with retired and operating generation. The team brings decades of power and energy experience to facilitate the nation's transition from fossil-fired generating assets to more sustainable energy sources. ETEM is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-20 Sunrise Power Holdings

Fellows, California, United States

Sunrise Power Holdings provides 586 megawatts of critical generation and reliability services to California's Central Valley. Sunrise Power Holdings is based in Fellows, California.

Buy -
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