Hull Street secures $160 million financing for Milepost Power portfolio

By Marisa Wong

Los Angeles, Dec. 21 – Hull Street Energy, LLC has closed a $160 million credit facility for its 855 megawatt Milepost Power Texas portfolio known as Mesquite Generation, according to a press release.

The plants in the Mesquite portfolio are located in Bastrop and Paris, Tex. Proceeds will be used to fund reserves, expenses and distributions to investors.

Investec Bank plc led the financing and acted as initial coordinating lead arranger and bookrunner. Other lenders in the financing included ING Capital LLC as coordinating lead arranger and Starwood Infrastructure Finance and Sequoia Economic Infrastructure Income Fund as additional lenders.

Troutman Pepper acted as legal counsel to Hull Street Energy. Kirkland & Ellis acted as legal counsel to lenders.

Based in Bethesda, Md., Hull Street Energy is a private equity firm that specializes in deploying capital into the power sector as it decarbonizes. Affiliate Milepost Power owns and manages clean natural gas and dual-fuel electric generating plants in North America.

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