Deal Description: Hull Street Energy announced that it has entered into a definitive agreement to acquire the management team and development pipeline of Foundation Solar Partners, an independent renewable development company that specializes in identifying and developing utility-scale solar generation projects in select markets in the eastern United States. Foundation Solar Partners was established in 2019 by a team of accomplished industry veterans and to date has developed and sold 1GW of solar projects in PJM.
With this acquisition, Hull Street Energy expands its footprint in critical power infrastructure that will be required to support decarbonization of the North American energy economy. Through affiliates, the firm will own 52 power generation stations providing 900 MW of renewable, gas-fired, and dual-fueled generation capacity, in addition to the growing Foundation Solar Partners development project portfolio, to support transitioning grid operations throughout the United States.
Hull Street Energy’s press release can be found here.
Baker Botts Lawyers/Offices Involved:
Global Projects: Elaine Walsh (Partner, Washington, D.C.), Megan Chung (Associate, Washington, D.C.), Kyle Hayes (Special Counsel, New York),
Labor & Employment: Jennifer Trulock (Partner, Dallas)
Employee Benefits: Mark Bodron (Partner, Houston), Katie Birnhak (Law Clerk, New York)
Tax: Matt Donnelly (Partner, Washington, D.C.), Matt Larsen (Partner, Dallas), Peter Farrell (Senior Associate, Washington, D.C.)
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