Electric Light & Power covered Manatt’s representation of Hull Street Energy, a private equity firm that invests in power generation assets and related businesses, in its $83 million purchase of nine hydroelectric power facilities in New Hampshire. Manatt’s Alan Noskow, a partner in the firm’s corporate and finance practice, led the team, which included partners Jeff Davidson and Brian Ashin and associate Dieu Nguyen.
The facilities were purchased from Eversource Energy through a special purpose affiliate. The sale was part of an agreement between Eversource and other parties to implement New Hampshire’s Electric Restructuring Law, with a goal of achieving a competitive electric energy marketplace.
Hull Street’s acquisition of these facilities is part of a greater strategy to build a significant presence in the North American power sector. Once this transaction is complete in December or early 2018, Hull Street Energy affiliates will own approximately 531 MW of power generation in the Northeast, Mid-Atlantic and Western United States.
Read the article here.