Hull Street Energy buys New Hampshire hydroelectric facilities

Eversource completed the sale of nine hydroelectric facilities in New Hampshire to Hull Street Energy LLC.

The nine hydroelectric stations—Amoskeag Hydro, Ayers Island Hydro, Canaan Hydro, Eastman Falls Hydro, Garvins Falls Hydro, Gorham Hydro, Hooksett Hydro, Jackman Hydro, and Smith Hydro—will continue to operate under Hull Street Energy.

“The completion of this sale is the final milestone in the deregulation of the electric utility industry in the Granite State, which will provide a number of important benefits to our customers,” Eversource New Hampshire President Bill Quinlan said. “With this final sale, we are honoring the commitments made to employees and communities where the facilities are located, and we will maintain close communication with the towns to ensure a smooth transition.”

The sale is part of Eversource’s restructuring and rate stabilization plan established in 2015. In January, Eversource sold its New Hampshire fossil fuel powered generation facilities to Granite Shore Power LLC.

Hull Street Energy is a private equity firm that acquires and grows middle market power businesses. With the Eversource purchase, the firm acquires 68.2 megawatts (MW) of hydro capacity, including 16 MW at Amoskeag Hydro in Manchester; 8.4 MW at Ayers Island Hydro in Bristol; 6.4 MW at Eastman Falls Hydro in Franklin; 12.1 MW at Garvins Falls Hydro in Bow; and 17.2 MW at Smith Hydro in Berlin.