Hull Street Energy ("Hull Street") has acquired 100% of the Bastrop Energy Center and Paris Energy Center power plants from Mesquite Generation Holdings LLC, an affiliate of Atlas Holdings. These facilities are in Bastrop and Paris, Texas, and provide 855 megawatts of critical power generation and reliability services to the Texas grid.
"We are thrilled to be acquiring these high-quality, winterized power plants with a track record of operational excellence," said Edward Quinn, Chief Executive Officer of Milepost Power, Hull Street Energy's thermal power infrastructure business unit. "We look forward to working with the employees and other regional stakeholders to enhance the resiliency and reliability of power service for regional customers as the intermittent renewable fleet grows."
Following this transaction and the planned acquisition of Sunrise Power Holdings LLC, which owns a 586-megawatt power plant in Bakersfield California, Hull Street Energy affiliates will own approximately 2,300 megawatts of strategically located gas-fired and dual-fueled generation capacity, enhancing electric reliability throughout the United States.
Troutman Pepper acted as legal counsel to Hull Street Energy. King and Spalding and Houlihan Lokey acted as legal counsel and financial adviser to Atlas, respectively.