M&A Deal Summary

Hull Street Energy Acquires FirstLight Waterbury Generation

On April 1, 2021, private equity firm Hull Street Energy acquired renewable energy company FirstLight Waterbury Generation from ENGIE

Acquisition Highlights
  • This is Hull Street Energy’s 3rd transaction in the Renewable Energy sector.
  • This is Hull Street Energy’s 6th transaction in the United States.
  • This is Hull Street Energy’s 2nd transaction in Massachusetts.

M&A Deal Summary

Date 2021-04-01
Target FirstLight Waterbury Generation
Sector Renewable Energy
Buyer(s) Hull Street Energy
Sellers(s) ENGIE
Deal Type Divestiture

Target

FirstLight Waterbury Generation

Waterbury, Massachusetts, United States
FirstLight Waterbury Generation provides 96 megawatts of flexible, fast-start natural gas power generation capacity to the New England region. FirstLight Waterbury Generation is in Waterbury, Massachusetts.

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Buyer(S) 1

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 6 of 13
Sector (Renewable Energy) 3 of 5
Type (Divestiture) 6 of 8
State (Massachusetts) 2 of 2
Country (United States) 6 of 13
Year (2021) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-11 Gauley River Power Partners

Summersville, West Virginia, United States

Gauley River Power Partners LLC operates an 80 megawatt hydroelectric generating facility in Summersville, West Virginia. The facility supplies reliable, zero-carbon energy to customers in the Mid-Atlantic region.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-24 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.

Buy -

Seller(S) 1

SELLER

ENGIE

Courbevoie, France

Category Company
Founded 1880
Sector Utilities
Employees97,000
Revenue 82.6B EUR (2023)
DESCRIPTION

ENGIE is a French utility company. ENGIE provides electricity generation and distribution, natural gas and renewable energy. ENGIE was founded in 1880 and is based in Courbevoie, France.


DEAL STATS #
Overall 8 of 8
Sector (Renewable Energy) 3 of 3
Type (Divestiture) 7 of 7
State (Massachusetts) 1 of 1
Country (United States) 4 of 4
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-05 Renvico Holding S.r.l.

Milan, Italy

Founded in 2000, Renvico Holding S.r.l. is a renewable energy company with 334 MW of wind power installed in Italy and France. The company is focused on the acquisition, development, and management of wind farms with care and attention from start to finish.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-11 Eolia

Madrid, Spain

Eolia is an independent power producer in the Spanish renewable energy sector, engaged in the development, construction and operation of wind farms and solar photovoltaic plants. Eolia was founded in 2007 and is based in Madrid, Spain.

Buy -