The latest renewable energy news includes announcements on Hull Street Energy, Rest Super, Revera Energy, and others.
Hull Street Energy Completes Acquisition of 1.4 GW US Hydropower and Battery Storage Portfolio
Hull Street Energy has completed the acquisition of FirstLight’s US renewable-energy operations from the Public Sector Pension Investment Board. Announced November 2, the transaction transfers approximately 1.4 GW of installed capacity across Massachusetts, Connecticut and Pennsylvania. The portfolio includes the 1,168 MW Northfield Mountain pumped-storage facility, 14 conventional hydropower stations and three operational solar and battery storage facilities. PSP Investments retains FirstLight’s Canadian operations, which have been renamed Caelo Energy. The Canadian business operates 18 hydropower facilities totalling 202 MW in Quebec and Ontario and maintains a development pipeline approaching 1 GW. Financial consideration for the US acquisition was not disclosed.
Rest Super Increases MPower Renewable Energy Investment Commitment to A$250 Million
Australian superannuation fund Rest has expanded its investment commitment to MPower to A$250 million, supporting distributed solar and battery storage development. Announced November 2, the increased commitment brings total capital allocated to the platform alongside Wollemi Capital to A$350 million. MPower develops, finances, constructs and operates smaller renewable-energy installations, typically including projects of 5 MW or less. The company has solar and battery projects under construction across three Australian states, with additional developments in its pipeline. Wollemi acquired MPower in September 2025. The expanded financing will support further construction and acquisitions, although individual project allocations and commissioning schedules were not disclosed.
Revera Energy Doubles Credit Facility to $300 Million for UK and Australian Battery Storage Projects
Carlyle-backed Revera Energy has doubled its holding-company credit facility from $150 million to $300 million, with Santander and Barclays joining the financing arrangement. Announced October 28, the additional borrowing capacity will support late-stage battery storage developments in Australia and the United Kingdom. Nomura arranged the original facility. Revera’s operating and construction portfolio includes the 150 MW/300 MWh Bungama battery in South Australia, the 200 MW/400 MWh Windyhill project in Scotland and the 400 MW/800 MWh Hunterston project. Bungama entered commercial operation in May 2026, while Windyhill and Hunterston have progressed into construction. The expanded facility provides development capital rather than financing for one specified installation.
Italy Approves 272 MW Agrivoltaic Projects but Rejects 468 MW of Solar Developments
Italy’s government has approved five agrivoltaic projects with combined capacity of approximately 272 MW, while rejecting ten solar and agrivoltaic proposals totalling around 468 MW. The decisions were taken October 28 and reported October 30. All approved projects are located in Puglia. They include the 76.77 MW Solar Capital 1 project, 63.62 MW Ordona development, 53.84 MW CSPV Manfredonia project, 45.6 MW Aragonite installation and 32 MW La Feudale project. Rejected developments were located across Puglia, Lazio, Basilicata and Molise. The government cited landscape and cultural heritage considerations in its decisions. The approvals represent regulatory progress rather than completed financing or construction starts.
