Cube Hydro Partners reaches agreement to acquire hydroelectric plants in North Carolina

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Cube Hydro Partners reaches agreement to acquire hydroelectric plants in North Carolina

Cube Hydro Carolinas LLC, an affiliate of Cube Hydro Partners, LLC, has reached an agreement to purchase and upgrade four hydroelectric power plants located on the Yadkin River in North Carolina (USA) from Alcoa Power Generating Inc., a subsidiary of Alcoa Inc.

The four facilities, known as High Rock, Tuckertown, Narrows and Falls, total 215 MW and are expected to produce nearly 800,000 megawatt-hours (MWh) of clean electricity per year.

Cube Hydro Partners currently owns and operates 14 plants in New York, Pennsylvania, Virginia and West Virginia with a total capacity of 126 MW and 470,000 MWh annually. When the Yadkin project and other pending acquisitions close, Cube Hydro Partners will operate 19 plants on ten rivers in five states with a combined capacity of more than 373 MW, generating 1.4 million MWh annually, or enough electricity to power approximately 140,000 homes with renewable energy.

Dr. Kristina M. Johnson, CEO of Cube Hydro Partners and former U.S. Undersecretary of Energy as well as former Dean of the Pratt School of Engineering at Duke University, said:

 “We are excited to expand our presence into North Carolina to operate and upgrade the plants on the Yadkin River. We are committed to being good stewards of these well-run hydropower plants that have a long history of generating reliable, carbon-free electricity.”

Ray Barham, APGI Yadkin Relicensing Manager stated:

 “Alcoa has a long history in North Carolina and we are grateful for the strong relationships we’ve formed over the years. We will continue to promote economic development opportunities at the Badin Business Park and are confident that Cube Hydro will continue our century-long legacy of generating clean, renewable energy and protecting the natural resources of the region.”

John Collins, Managing Director for Business Development of Cube Hydro Partners, said:

“We look forward to partnering with local communities as well as state and federal regulators to preserve the natural beauty of North Carolina and increase the clean electricity generated from these plants.”

List of country news

Country news

  • July 18, 2016

    Copenhagen Infrastructure Partners acquires wind farms in Texas

    Copenhagen Infrastructure Partners has announced it has acquired 100% of the US onshore wind projects Bearkat Renewable Energy Project, LLC (380 MW) in Glasscock County, Texas and Blue Cloud Renewable Energy Project, LLC (150 MW) in Bailey and Lamb Counties, Texas (USA). Read more
  • July 14, 2016

    Brookfield closes $14 Billion Global Infrastructure Fund

    Brookfield Asset Management Inc. has announced that it held the final close on Brookfield Infrastructure Fund III (BIF III) with an aggregate of US$14 billion of equity commitments, creating a global infrastructure fund that invests in high-quality, core infrastructure assets on a value basis. Read more
  • July 11, 2016

    Southern Company subsidiary acquires Henrietta Solar Project

    Southern Company subsidiary Southern Power has announced that Southern Power has acquired a controlling interest in the 102 MW Henrietta Solar Project in Kings County, California, from SunPower, which will own the remaining interest in the project. The Henrietta Solar Project marks Southern Power's 11th solar project in California and is the company's first acquisition in Kings County. Read more
  • July 11, 2016

    Southern Company subsidiary acquires Lamesa Solar facility in Texas

    Southern Company subsidiary Southern Power has announced the acquisition of its third Texas solar project in less than a year – the 102 MW Lamesa Solar Facility – from RES America Developments Inc. Read more
  • July 11, 2016

    Southern Company acquires AGL Resources creating a leading U.S. energy company

    Southern Company and AGL Resources has announced the completion of a merger. AGL Resources,with a network of natural gas assets, has become a wholly owned subsidiary of Southern Company. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.