April 8, 2025

FERC approves Hull Street’s acquisition and leaseback agreement with J-POWER for units of a gas-fired plant in PJM

The deal involves the purchase and leaseback of six units of an Illinois power plant with about 900 MW of capacity.

Green Light: MPH Elwood LLC, a unit of private equity firm Hull Street Energy LLC, won FERC approval to acquire and lease back to J-POWER USA Generation Partners LLC, 900-mw of generating capacity from the 1,350-MW Elwood natural gas-fired generating facility in Illinois, according to a March 28 order. Ownership Shuffle: Hull Street Energy’s MPH Elwood will acquire and lease ...

Details:

Filing Date: March 28, 2025

Docket Numbers:

EC25-51

Short Summary:

MPH Elwood LLC, a unit of private equity firm Hull Street Energy, won FERC approval to acquire and lease back to J-POWER USA Generation Partners LLC, 900-mw of generating capacity from the 1,350-MW Elwood natural gas-fired generating facility in Illinois, according to a March 28 order.

Impact Level:

Categories:

Dealmaking & Transactions

Tags: Acquisitions & Dispositions, Natural Gas, Natural Gas-Fired Generators, Sale-Leaseback

Entities: Electric Power Development Co. Ltd., Hull Street Energy LLC

Markets: PJM Interconnection (PJM)

Regions: Central

States: Illinois

Regulators: FERC

Courts:

Documents:

Acquisition & Disposition – Order Approving