I Squared Capital acquires ten US run-of-the-river hydro facilities from Harbor Hydro

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
I Squared Capital acquires ten US run-of-the-river hydro facilities from Harbor Hydro

Cube Hydro Partners, LLC, a subsidiary of I Squared Capital, has acquired a 100% ownership interest in ten US run-of-the-river hydro facilities from Harbor Hydro, LLC, a portfolio company of LS Power Equity Advisors.

The portfolio comprises 83 megawatts of generation assets in Pennsylvania, Virginia and West Virginia, the portfolio benefits from favorable hydrology and is scheduled to produce approximately 255 gigawatt-hours of clean, reliable electricity per year.

Following this acquisition, Cube Hydro’s combined assets will generate more than 106 MW of clean, renewable energy.

Led by former U.S. Undersecretary of Energy Kristina Johnson, Cube Hydro Partners, LLC, is a hydropower development and operating platform investing in mid-sized greenfield and operating hydro projects in the U.S. and Canada. Kristina Johnson stated:

“Hydropower is the original renewable source of electricity. We are excited to add these ten plants to our platform.”

John Collins, Managing Director of Cube Hydro, commented

These additional assets allow us to optimize the performance of our existing portfolio and drive long-term value. Working side-by-side with I Squared Capital over the last year, we have developed a strong team to identify and execute attractive investment opportunities in hydroelectric assets.”

Thomas Lefebvre, Managing Director at I Squared Capital, added:

“We are pleased with our hydropower platform’s expansion to a region characterized by dependable river basins, a highly efficient electricity market and a diverse off-taker base. Cube Hydro is set on a successful growth path to identify attractive assets with the opportunity for future optimization through equipment upgrades and operational improvements.”

I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, and transport in North America, Europe, and select high growth economies. The Firm has offices in New York, Houston, London, New Delhi, Hong Kong and Singapore.

List of country news

Country news

  • February 26, 2015

    Duke Energy acquires stake in REC Solar

    Duke Energy has acquired a majority interest in REC Solar, a provider of comprehensive commercial solar and energy solutions nationwide. Read more
  • February 26, 2015

    Carlyle Power Partners II raises up to US$365 million

    Carlyle Group, a global alternative asset manager with US$203 billion of assets under management, has raised up to US$365 million for its second Power Partners fund. Read more
  • February 27, 2015

    Morgan Stanley to sell Southern Star Central Corporation

    Morgan Stanley Infrastructure Partners has pans to sell Southern Star Central Corporation, a Kentucky-based natural gas transmission system operator. Read more
  • March 02, 2015

    Iberdrola USA and UIL Holdings merge businesses in the U.S.

    Iberdrola USA, a wholly owned subsidiary of Iberdrola S.A., and UIL Holdings, a diversified energy delivery company, have agreed to merge businesses in the U.S. Read more
  • March 02, 2015

    SolAmerica Energy Enhances Finance and Development Expertise

    SolAmerica Energy, LLC, a solar design, development and construction firm, has appointed N. Leland Shuman as Senior Vice President of Project Finance to the company’s management team. 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.