Hull Street Energy Agrees To Acquire Natural Gas-Fired Plant From The Connecticut Municipal Electric Energy Cooperative
BETHESDA, Md., Oct. 6, 2021 /PRNewswire/ -- Hull Street Energy announced today that it has entered into a definitive agreement to acquire the AL Pierce Generation facility from the Connecticut Municipal Electric Energy Cooperative. The facility is in Wallingford, Connecticut and provides 84 megawatts of flexible, fast start dual-fueled power generation capacity to the New England region.
The AL Pierce facility will be a high-quality addition to Hull Street Energy’s portfolio of critical power infrastructure. With this acquisition, the firm will continue to support regional reliability standards, allowing for the integration of new variable renewable energy resources as New England states work to achieve their climate goals.
Upon closing this transaction, Hull Street Energy affiliates will own 52 power generation stations providing over 950 MW of renewable, gas-fired, and dual-fueled generation capacity to support grid operations throughout the United States.
Troutman Pepper LLP acted as legal counsel to Hull Street Energy.
Pierce Atwood LLP acted as legal counsel to Connecticut Municipal Electric Energy Cooperative.
About Hull Street Energy, LLC
Hull Street Energy is a private equity firm that specializes in deploying capital into the power sector as it decarbonizes. Headquartered in Bethesda, Maryland, the team leverages its decades of experience and unique knowledge of North American electricity infrastructure, fundamentals and grid operations, including fuel inputs, commodity contract structuring, renewable and fossil powered generation assets, energy storage, transmission and distribution systems, and electricity demand-side businesses to build value for stakeholders. For further information about Hull Street Energy please see www.hullstreetenergy.com.
About Connecticut Municipal Electric Energy Cooperative
Established as a joint action agency in 1976 by state statute, the Connecticut Municipal Electric Energy Cooperative is responsible for the financing, acquisition and construction of electric generation resources and the implementation of power supply contracts on behalf of its municipal electric utility members, which include Bozrah Light & Power, Jewett City Department of Public Utilities, Groton Utilities, Norwich Public Utilities, South Norwalk Electric and Water and The Third Taxing District of Norwalk Electric Division. CMEEC also supplies the wholesale power requirements of the Mohegan Tribal Utility Authority.
SOURCE Hull Street Energy