Maryland-based firm buying FirstLight properties, including Northfield and Turners Falls facilities

The Recorder, May 20, 2026
by Erin-Leigh Hoffman

Hull Street Energy, a power-focused private equity investment firm based in Maryland, is buying FirstLight Hydro Generating Co.’s United States properties, including the Northfield Mountain Pumped Hydro Storage Station, the Turners Falls Dam Generating Station and the Cabot Generating Station.

According to Hull Street Energy’s Tuesday announcement, the acquisition includes FirstLight’s portfolio of 1,400 megawatts of “clean, reliable generation in the Northeast.” This acquisition includes other hydroelectric facilities in Massachusetts, Connecticut and Pennsylvania, and additional solar and battery energy storage facilities throughout the Northeast. Between the FirstLight acquisition and an additional 13 dams in Michigan, Hull Street Energy will become one of the largest hydroelectric energy investors in the U.S.

“The retirement of dispatchable generation in New England has left the region struggling to integrate sufficient new clean resources to meet growing demand, raising concerns about the impact of narrowing reliability margins on grid stability and affordability,” Sarah Wright, founder and managing partner of Hull Street Energy, said in a statement regarding the decline of demand-driven energy sources like hydroelectric plants in New England. “Addressing this challenge requires thoughtful retention and optimization of existing clean, firm, long-duration resources like Northfield Mountain, which plays a critical role in maintaining grid reliability across the region.”