Hull Street Energy has signed a definitive agreement to purchase Bastrop Energy Center and Paris Energy Center power plants from Atlas Holdings’ affiliate Mesquite Generation.
Financial details of the deal have not been disclosed.
The facilities, located in Bastrop and Paris, Texas, will deliver 855MW of power to the Texas grid.
Milepost Power CEO Edward Quinn stated: “We are thrilled to be acquiring these high-quality, winterised power plants with a track record of operational excellence.
“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.”
Milepost Power is Hull Street’s thermal power infrastructure business unit.
Hull Street Energy affiliates will own 2.3GW of gas-fired and dual-fuelled generation capacity, including the planned acquisition of Sunrise Power Holdings, which owns a 586MW power plant in Bakersfield, California.
Troutman Pepper served as the legal counsel to Hull Street Energy on the transaction, while King and Spalding and Houlihan Lokey acted as legal counsel and financial adviser to Atlas.
In November 2023, Hull Street Energy agreed to divest its 42 run-of-river hydropower facilities in the US to LS Power for an undisclosed sum.
With a combined capacity of 334MW, the hydropower facilities are located across 11 US states.