Hull Street Energy Acquires Two Peaking Power Plants with 1.26GW Capacity
Private equity firm Hull Street Energy has acquired two peaking power plants in the PJM electricity market, adding a combined capacity of 1.26 gigawatts to its portfolio. The Lee County Generating Station (Illinois) and Tait Electric Generating Station (Ohio), collectively known as GridFlex Portfolio, are natural gas turbine and dual-fuel facilities that enhance grid reliability during high demand periods. The acquisition is part of HSE's strategy to expand Milepost Power’s fleet, which now totals nearly 5 gigawatts. The deal was funded through equity from HSE-managed funds and secured debt financing arranged by Santander and Investec. Legal and financial advisory services were provided by Troutman Pepper Locke, PEI Global Partners, Houlihan Lokey, and Bracewell. This move follows another recent acquisition of FirstLight USA in May 2026, adding nearly 1.4 gigawatts from clean energy assets to HSE’s portfolio.
