Private equity firm Hull Street Energy has finalised the acquisition of two peaking power facilities from Rockland Capital. The transaction adds 1.26GW of US generation capacity to the company's Milepost Power platform.
Known collectively as the GridFlex Portfolio, the acquired assets include the 677MW Lee County Generating Station in Illinois and the 586MW Tait Electric Generating Station in Ohio. The former operates as a natural gas turbine facility, while the latter functions as a dual-fuel power plant.
Situated within the Pennsylvania-Jersey-Maryland electricity market, these dispatchable resources provide critical flexibility to balance intermittent supply and meet growing regional demand. Arranged by Santander and Investec, the buyout was financed through a combination of equity and senior secured debt, bringing Milepost Power’s total gas-fired and dual-fuel capacity to nearly 5GW.
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