HULL STREET ENERGY ACQUIRES MINORITY STAKE IN CALIFORNIA NATURAL GAS-FIRED PLANT

BETHESDA, Md., March 21, 2022 /PRNewswire/ -- After acquiring a substantial majority of the Crockett Cogeneration facility in December 2021, Hull Street Energy has now acquired the remaining outstanding interests in the facility through the purchase of Osaka Gas USA's minority, 8.3% interest.  The Crockett Cogeneration facility is located in Crockett, California and provides 240 megawatts of critical generation and reliability services to the Bay Area. 

Since its acquisition, the Crocket facility has been managed by Hull Street Energy's critical power infrastructure business unit, Milepost Power, which was formed to enable the next wave of growth in the electricity industry.  With the acquisition of Osaka's outstanding interest, Milepost will be able to fully optimize the entity capital structure and plant operations. The Crockett plant will continue to support regional reliability standards, allowing for the integration of new variable renewable energy resources as California works to achieve its climate goals.  

Hull Street Energy affiliates own 53 power generation stations providing over 1,200 MW of renewable, gas-fired, and dual-fueled generation capacity to support grid operations throughout the United States. 

Troutman Pepper acted as legal counsel to Hull Street Energy. 

About Hull Street Energy, LLC

Hull Street Energy is a private equity firm that specializes in deploying capital into the power sector as it decarbonizes.  Headquartered in Bethesda, Maryland, the team leverages its decades of experience and unique knowledge of North American electricity infrastructure, fundamentals and grid operations, including fuel inputs, commodity contract structuring, renewable and fossil powered generation assets, energy storage, transmission and distribution systems, and electricity demand-side businesses to build value for stakeholders. For further information about Hull Street Energy please see www.hullstreetenergy.com.

About Milepost Power

Milepost Power owns and manages flexible, dependable and clean natural gas and dual fuel electric generating plants in North America, providing electricity and critical reliability service to the grid.  Its power plants and analytically driven risk management protocols position the company to play an increasingly important role as the industry transitions to include more renewable generation resources.  Milepost Power is an affiliate of Hull Street Energy. For further information please see www.milepostpower.com.

Media Contact:
press@hullstreetenergy.com

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SOURCE Hull Street Energy