Overview
- Hull Street Energy signed an agreement May 20–21 to acquire FirstLight USA from the Public Sector Pension Investment Board, covering the companies' U.S. generation assets in the Northeast.
- The portfolio includes Northfield Mountain, a 1,168 MW pumped storage facility that is New England’s largest energy storage site, plus 14 hydroelectric stations and three operational solar and battery facilities.
- The companies reported the deal covers roughly 1,400 MW of clean generation and will leave HSE with about 1,200 MW of flexible pumped storage and nearly 400 MW of hydro capacity after this and a separate Michigan acquisition close.
- The transaction is subject to federal regulatory approval and is expected to close later in 2026, with Troutman Pepper Locke and DLA Piper serving as legal counsel to HSE.
- HSE frames the purchase as a move to retain firm, long‑duration resources to help stabilize New England’s grid as older dispatchable generators retire, and FirstLight’s leadership said it will continue to run the business during the next phase.