Hull Street Energy Expands Its Footprint with Acquisition of New York Power Plants

Hull Street Energy (HSE) has announced a significant enhancement to its energy portfolio with the acquisition of 100% of four thermal power plants located in New York from J-Power USA Generation, L.P. This strategic acquisition includes well-known plants such as Edgewood Energy, LLC, Shoreham Energy, LLC, Pinelawn Power LLC, and Equus Power I, L.P. The combined capacity of these facilities stands at an impressive 300 megawatts, providing essential power generation to support the energy demands of New York customers.

A Major Move in Energy Sector

The acquisition marks an important step for Hull Street Energy, which currently owns approximately 2,590 megawatts of strategically positioned gas-fired and dual-fueled generation assets that contribute to the Milepost Power fleet. In an era where energy systems are evolving towards greener technologies, HSE's acquisition aims to bolster grid reliability as the country transitions to a decarbonized energy landscape.

Edward Quinn, the Chief Executive Officer of Milepost Power, expressed enthusiasm about the integration of the new power plants into their operations. He emphasized the company’s commitment to delivering reliable power and capacity service to the Long Island market. This initiative is not only a strategic move for HSE but also underlines the importance of ensuring energy reliability in one of the nation’s most populous regions.

Collaborative Efforts and Future Goals

The acquisition was supported by seasoned advisors, with Troutman Pepper fulfilling the role of legal counsel for HSE, while CIBC Capital Markets and Merit Capital Advisors provided financial advisory services. J-Power USA was also backed by Baker McKenzie as its legal representative during the transaction.

Hull Street Energy is recognized as a private equity firm with a focus on investing in the power sector during its crucial transition towards more sustainable practices. Based in Bethesda, Maryland, the firm exploits its deep experience and specialized knowledge of North American electricity infrastructure to create value for its stakeholders. This acquisition aligns with their mission to play a significant role in the future of energy in the United States.

Milepost Power operates as an affiliate of HSE and specializes in managing flexible, dependable, and clean natural gas and dual-fuel electric generation plants across North America. Their asset management strategy is complemented by data-driven risk management practices, which are essential as the industry moves increasingly toward integrating renewable energy resources.

J-Power USA: A Legacy of Excellence

J-Power USA Generation, L.P., based in greater Chicago, has built a robust reputation for developing and managing power generation facilities across North America. Their long-term strategy focuses on acquiring, developing, financing, and operating various power projects. This acquisition by HSE exemplifies the effectiveness of their operational strategies and the quality of their energy assets.

For further details on Hull Street Energy, interested readers can visit their website at www.hullstreetenergy.com. More information about Milepost Power can be found at www.milepostpower.com. Meanwhile, J-Power USA’s endeavors in power generation can be explored at www.jpowerusa.com.

In conclusion, Hull Street Energy's recent acquisition is a clear indication of the shifts taking place within the energy sector and the ongoing efforts to secure reliable and sustainable energy resources amidst changing energy dynamics. As they continue to grow their portfolio and address energy needs, HSE is poised to make a marked impact on the power generation landscape of the United States.