A joint venture of Enel Green Power North America and GE Energy Financial Services is selling 31 hydro power plants in the US with a combined capacity of 255MW to Hull Street Energy.
EGPNA Renewable Energy Partners closed the first phase of the deal this week for 30 projects totalling 175MW.
The second phase, which includes the remaining 80MW of capacity, is expected to close during the first quarter of 2020, pending regulatory approval.
The plants supply electricity to customers in Vermont, Washington, Massachusetts, New York, Virginia, South Carolina, Idaho, California, North Carolina, West Virginia and Pennsylvania.
Hull Street Energy affiliates own 51 power plants providing more than 815MW of renewable, gas-fired, and dual-fueled generation capacity throughout the US.
BNP Paribas Securities served as sole placement agent and ancillary facility provider on a private placement financing for the transaction, while Baker Botts acted as legal counsel to Hull Street Energy.
No details were disclosed on the price of the sale.