Glen Park Hydro LLC, an affiliate of Cube Hydro Partners, has acquired a 100% ownership interest in the Glen Park hydro power plant, a 32.65-MW, run-of-the-river facility on the Black River near Watertown, New York.
The facility is expected to produce approximately 150,000 megawatt-hours of clean electricity per year.
Dr. Kristina M. Johnson, CEO of Cube Hydro Partners, said in an Aug. 1 statement: “We are excited to add this well-run and maintained facility to our portfolio in New York, a state that values clean energy generation.”
“By adding Glen Park, located on the Black River, Cube Hydro continues to grow and diversify its hydroelectric portfolio in the New York market,” said John Collins, Managing Director for Business Development of Cube Hydro Partners.
Cube Hydro, which acquires and modernizes hydroelectric facilities, currently manages 15 plants in New York, Pennsylvania, Virginia and West Virginia with a total capacity of 159 MW and approximately 620,000 megawatt-hours annually. When publicly announced pending acquisitions close, Cube Hydro Partners will manage 19 plants on ten rivers in five states with a combined capacity of more than 373 MW, generating 1.4 million megawatt-hours annually.
Cube Hydro Partners, a portfolio company of I Squared Capital, is a hydropower development and operating platform targeting investments in mid-sized 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.