Hull Street Energy, a power-focused U.S. investment firm, has signed an agreement to acquire FirstLight USA, from the Public Sector Pension Investment Board. The transaction includes a portfolio of nearly 1,400 megawatts of clean, reliable generation in the Northeast, including Northfield Mountain, a 1,168-megawatt pumped storage hydro facility in Massachusetts that is the largest energy-storage facility in New England. The proposed acquisition also includes 14 hydroelectric stations located in Connecticut, Massachusetts and Pennsylvania, and three operational solar and battery facilities in the Northeast.
“The retirement of dispatchable generation in New England has left the region struggling to integrate sufficient new clean resources to meet growing demand, raising concerns about the impact of narrowing reliability margins on grid stability and affordability,” said Sarah Wright, founder and managing partner of Hull Street Energy. “Addressing this challenge requires t
