Hull Street Energy acquires FirstLight's U.S. power portfolio from PSP Investments
Hull Street Energy has completed its purchase of FirstLight's U.S. clean power portfolio, about 1.4 GW of hydro, storage and other assets, from PSP Investments.
PSP Investments said it has completed the sale of FirstLight's U.S. operations, including the FirstLight brand, to Hull Street Energy, which the release describes as a private equity firm focused on power infrastructure and energy transition investments.
The U.S. portfolio comprises about 1.4 GW of installed capacity across hydroelectric generation, energy storage and other clean energy assets in Massachusetts, Connecticut and Pennsylvania.
PSP Investments is keeping FirstLight's Canadian business, a mix of the legacy Hydromega and H2O Power portfolios, which will operate as Caelo Energy. Patrick Gut was named CEO of Caelo Energy.
Deal facts
- Target
- FirstLight U.S. operations
- Business
- U.S. hydroelectric, energy storage and clean energy portfolio of about 1.4 GW in Massachusetts, Connecticut and Pennsylvania, including the FirstLight brand
- Buyer
- Hull Street Energy
- Sponsor
- Hull Street Energy
- Seller
- PSP Investments
- Deal type
- Platform
- Advisers
- Troutman Pepper Locke legal counsel to Hull Street Energy
- DLA Piper legal counsel to Hull Street Energy
- Status
- Completed
- Announced
- Monday, November 2, 2026
Sources
- CisionNov 2, 2026
- PR NewswireNov 2, 2026
- PR NewswireNov 2, 2026
- CisionNov 2, 2026
- PSP Investments
Written by Buyout Desk from the sources above. Spotted an error? Email corrections@buyoutdesk.com.