Cube Hydro Partners LLC said Nov. 11 that it has acquired a 100% ownership interest in the York Haven Hydro Station, a run-of-the-river hydropower facility located in York Haven, Pennsylvania.
Totaling 20 MW, the facility benefits from favorable hydrology and is expected to produce over 130,000 megawatt-hours of clean electricity per year.
Kristina Johnson, CEO of Cube Hydro, said: “We are excited to expand our presence in the Pennsylvania-New Jersey-Maryland (PJM) market to include York Haven. It is one of the oldest and best run hydropower plants in the U.S. with a long history of generating clean, carbon-free and reliable electricity.”
Following this acquisition, the Cube Hydro portfolio consists of fourteen plants located in New York, Pennsylvania, Virginia and West Virginia, with a combined capacity of more than 126 MW and generation of nearly 500,000 megawatt-hours annually.
“We are thrilled with this new addition, the result of Cube Hydro’s focus on exclusively sourced transactions,” said John Collins, Managing Director of Cube Hydro. “York Haven’s proven high capacity factor and availability are an excellent fit for the portfolio.”
Cube Hydro Partners, led by former U.S. Undersecretary of Energy Kristina Johnson and a portfolio company of I Squared Capital, is a hydropower development and operating platform targeting investments in mid-sized greenfield and operating hydro projects in the U.S. and Canada.
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.