Hull Street Energy (HSE), a power-focused U.S. investment firm, has acquired two power plants totaling 1,263 megawatts of capacity from Rockland Capital. These assets together make up the GridFlex Portfolio, joining Milepost Power, HSE’s thermal power-generation platform.
The GridFlex Portfolio consists of Lee County Generating Station, a 677-megawatt natural gas turbine facility in Illinois, and Tait Electric Generating Station, a 586-megawatt dual-fuel facility in Ohio. Both facilities are located in the PJM market, where they provide capacity and operational flexibility to support grid reliability.
The transaction was funded with equity from HSE-managed funds and committed senior-secured debt financing.
“Dispatchable resources are increasingly important as the resource mix becomes more intermittent and demand grows,” said Sarah Wright, founder and managing partner of HSE. “This is particularly true in PJM where declining reserve margins are increasing
