PSP Investments Divests FirstLight U.S. Power Portfolio to Hull Street Energy

## PSP Investments Divests FirstLight U.S. Power Portfolio to Hull Street Energy The Public Sector Pension Investment Board (PSP Investments) has announced an agreement to sell the U.S. operations of FirstLight to Hull Street Energy, a private equity firm specialising in power infrastructure and energy assets, according to a PR Newswire release dated May 19, 2026. Montréal-based PSP Investments, which manages the pension funds of several Canadian federal public service bodies, confirmed the transaction covers FirstLight's U.S. portfolio, with Hull Street Energy acquiring the assets as part of its broader strategy to expand holdings in power infrastructure across North America. ### Relevance to the Maritime Sector While primarily a power infrastructure transaction, the deal carries indirect significance for the maritime industry. Coastal and port-adjacent energy assets — including hydroelectric facilities, battery storage, and grid infrastructure — increasingly underpin the electrification strategies of major port authorities and marine terminals across the northeastern United States. Reliable, privately managed power infrastructure is a critical enabler for cold ironing (shore power) programmes, electric cargo handling equipment, and the emerging network of marine vessel charging facilities. Hull Street Energy's focus on power infrastructure positions the firm as a potential partner or supplier to port operators seeking long-term energy supply agreements as decarbonisation mandates tighten across the industry. ### Transaction Background FirstLight is a New England-based energy company with a portfolio that includes hydroelectric generation and pumped storage assets. PSP Investments had held the U.S. operations as part of its infrastructure investment mandate. Financial terms of the transaction were not disclosed in the announcement. Hull Street Energy, headquartered in Baltimore, Maryland, has built a reputation for acquiring and operating competitive power generation and storage assets, making it a logical acquirer for FirstLight's U.S. holdings. The transaction is subject to customary regulatory approvals and closing conditions. No timeline for completion was specified in the initial announcement. *Source: PR Newswire / PSP Investments*