M&A Deal Summary

Hull Street Energy Acquires Gauley River Power Partners

On May 11, 2020, private equity firm Hull Street Energy acquired renewable energy company Gauley River Power Partners from Enel Green Power North America and GE Energy Financial Services

Acquisition Highlights
  • This is Hull Street Energy’s 2nd transaction in the Renewable Energy sector.
  • This is Hull Street Energy’s 5th transaction in the United States.
  • This is Hull Street Energy’s 1st transaction in West Virginia.

M&A Deal Summary

Date 2020-05-11
Target Gauley River Power Partners
Sector Renewable Energy
Buyer(s) Hull Street Energy
Sellers(s) Enel Green Power North America
GE Energy Financial Services
Deal Type Divestiture

Target

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.

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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 5 of 13
Sector (Renewable Energy) 2 of 5
Type (Divestiture) 5 of 8
State (West Virginia) 1 of 1
Country (United States) 5 of 13
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-06 NextEra Energy Resources - Bayswater Energy Center

Far Rockaway, New York, United States

NextEra Energy Resources LLC - Bayswater Energy Center is a 56-megawatt simple-cycle natural-gas-fired power plant and A Pratt & Whitney Power Systems combustion turbine, When operating at full power, the plant is capable of generating enough electricity for 56,000 homes. Began commercial operation in 2002.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 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.

Buy -

Seller(S) 2

SELLER

Enel Green Power North America

Andover, Massachusetts, United States

Category Company
Sector Renewable Energy
DESCRIPTION

Enel Green Power North America, Inc. is an operator of renewable energy plants.


DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 1 of 1
State (West Virginia) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-11 Demand Energy Networks

Liberty Lake, Washington, United States

Demand Energy Networks, Inc. is a developer of distributed energy network optimization system to maximizes the economic returns of energy storage systems alone, or in combination with distributed generation.

Buy -
SELLER

GE Energy Financial Services

Stamford, Connecticut, United States

Category Company
Sector Financial Services
DESCRIPTION

GE Energy Financial Services is an investment provider to energy infrastructure projects around the world. Areas of interest include power generation and distribution, oil and gas, pipelines and storage, water, venture capital, and renewable energy. GE Energy Financial Services is a unit of GE Capital and is based in Stamford, Connecticut.


DEAL STATS #
Overall 7 of 7
Sector (Renewable Energy) 4 of 4
Type (Divestiture) 4 of 4
State (West Virginia) 1 of 1
Country (United States) 4 of 4
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-17 GE Energy Financial Services - Whiteside Hill Wind Farm

Scotland, United Kingdom

GE Energy Financial Services Whiteside Hill Wind Farm is a provider of renewable energy services located in Dumfries and Galloway, Scotland, consists of ten GE 2.85 turbines with a total installed capacity of 28.5 Megawatts (MW).

Sell -