Hull Street Energy buys 18-MW hydro portfolio from Carlyle
Author: U.S. Army Corps of Engine. License: Creative Commons, Attribution 2.0 Generic.
US private equity firm Hull Street Energy LLC said today it has completed the takeover of Nautilus Hydro LLC, which owns five hydropower plants in Massachusetts totalling 18 MW.
Hull Street Energy took over the firm from funds managed by affiliates of The Carlyle Group (NASDAQ:CG), it said, without disclosing the value of the transaction. Carlyle acquired the particular hydro portfolio a year ago through its takeover of Nautilus Power, then known as Essential Power.
The five assets within the Nautilus Hydro portfolio are located on the Chicopee and Deerfield Rivers. Cogentrix Energy Power Management LLC has been overseeing the plants' management, operations and maintenance over the past year.
With this purchase, Hull Street Energy has grown its own generation portfolio to about 465 MW, with facilities located in Massachusetts, Connecticut, Rhode Island, New Jersey and Montana.