Hull Street Energy, LLC (HSE), a leading, power-focused US investment firm, has completed its acquisition of FirstLight’s US platform from the Public Sector Pension Investment Board (PSP Investments). The acquired assets include a portfolio of nearly 1400 MW of clean, reliable generation in the Northeast, including Northfield Mountain, a 1168 MW pumped storage hydro project in Massachusetts that is the largest energy storage facility in New England, 14 hydroelectric stations located in Connecticut, Massachusetts, and Pennsylvania, and three operational solar and battery facilities in the Northeast.
“FirstLight represents an important addition to our portfolio and underscores our conviction that firm, clean resources like FirstLight’s hydropower and energy storage facilities will play an increasingly vital role in the Northeast’s evolving energy landscape,” said Sarah Wright, Founder and Managing Partner of Hull Street Energy. “We see tremendous opportunity in the hydro sector and look forward to combining HSE’s experience and expertise with FirstLight’s high-quality assets and innovative team to deliver value to the communities and markets we serve.”
“We are incredibly proud of the strong business our team has built at FirstLight through a commitment to operational excellence and a focus on delivering clean energy solutions that support grid reliability,” added Justin Trudell, President and CEO of FirstLight. “We look forward to continuing to lead the business in the Northeast and build on our success in partnership with Hull Street Energy.”
Troutman Pepper Locke and DLA Piper acted as legal counsel to HSE.
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