PE firm to buy renewables developer Foundation Solar Partners

Solar power station. Featured Image: worradirek/

May 28 (Renewables Now) - US private equity firm Hull Street Energy LLC said this week it has signed a deal to acquire Washington, DC-based renewables developer Foundation Solar Partners for an undisclosed sum.

Set up in 2019, Foundation Solar Partners is engaged in identifying and developing utility-scale solar power schemes in select markets in the eastern US. The company has developed and sold about 1 GW of solar projects in the PJM transmission territory to date.

Through this transaction, Hull Street Energy is acquiring the management team and development pipeline of Foundation Solar Partners. The move expands its footprint in decarbonisation-related critical power infrastructure. The PE firm said it will own 52 power plants providing 900 MW of renewable, gas-fired and dual-fuelled generation capacity, in addition to the growing Foundation Solar Partners development project portfolio.

Baker Botts LLP served as legal counsel to the buyer, while The Law Office of Jon Staley acted as such to the business being acquired.

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription