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Hull Street Energy sells Foundation Solar Partners
Hull Street Energy sells Foundation Solar Partners
Listen to this articleBethesda-based private equity firm Hull Street Energy announced Tuesday it has sold Foundation Solar Partners LLC to Birch Creek Energy LLC.
Terms of the deal were not disclosed.
Foundation Solar is an independent renewable development company that specializes in high-quality utility-scale solar opportunities in select markets through the United States. Foundation Solar was established in 2019 by a team of accomplished industry veterans who have developed, acquired and managed more than 6 GW of renewable resources over the past two decades.
Through its investment in Foundation Solar, Hull Street Energy continued to grow the clean, critical power infrastructure that will be required to decarbonize the North American energy economy.
Lazard Frères & Co. LLC acted as exclusive financial adviser to Hull Street Energy.
Foley & Lardner LLP acted as legal counsel to Hull Street Energy.
Nelson Mullins Riley & Scarborough LLP acted as legal counsel to Birch Creek Energy LLC.
Birch Creek, formed as a utility scale solar development platform in 2019, focuses on the development, financing and ownership of utility scale solar and storage projects in the United States. Since 2019, Birch Creek has developed 872 megawatts of solar projects and has a pipeline of over 8 gigawatts of utility scale solar and storage pipeline in various stages of development across MISO, PJM, Texas and the Southeast. Birch Creek has 23 employees and is based in St. Louis, Missouri.
