Energy Acquisitions in West Virginia

Eagle Summit Resources, LLC purchased Reflectance Energy, LLC and will operate the acquired Reflectance coal mining complex under the new name Eagle Mountain Energy, LLC. The acquisition adds more than two million tons of annual metallurgical coal production capacity in Wyoming County, West Virginia and strengthens ESR's position among the top U.S. metallurgical coal producers; the deal was accompanied by a new term loan facility from Valor Mining Credit Partners (managed by Breakwall Capital in partnership with Vitol) and an exclusive marketing agreement with Vitol for export volumes.

Hearthstone Holdings, a portfolio company of Ullico Infrastructure Fund (UIF), closed the acquisition of 100% of Hope Gas, Inc. from Dominion Energy. Hearthstone will move its headquarters to Morgantown, West Virginia, plans to hire roughly 100 additional employees, and intends to leverage local natural gas resources to expand service to more customers across the state.

Energy Services of America Corporation’s Nitro Construction Services subsidiary completed the purchase of substantially all assets of Revolt Energy, Inc., a Nitro, West Virginia-based solar installation company. The asset purchase, completed April 30, 2021, brings residential and growing commercial/industrial solar installation capabilities into Nitro’s service offering to support diversification into renewable energy.

Vicinity Energy has acquired Morgantown Energy Associates, the district energy system serving West Virginia University in Morgantown, West Virginia, from an investment affiliate of Starwood Energy Group Global, L.L.C. Vicinity plans to convert the system away from coal to primarily natural gas (with ULSD backup), invest in additional dual-fuel boilers, and reduce the system's carbon footprint and local air pollutants while expanding its U.S. district energy footprint.

Hull Street Energy acquired 100% of the interests in Gauley River Power Partners, LLC, the operator of an 80 MW hydroelectric facility in Summersville, West Virginia, from Enel Green Power North America and GE Energy Financial Services (via their EGPNA Renewable Energy Partners JV). The purchase was part of a larger purchase-and-sale under which Hull Street acquired thirty-one hydroelectric stations from the EGPNA JV and expands Hull Street affiliates' generation portfolio across the United States.