Bethesda, MD, August 1, 2016 – Glen Park Hydro LLC, an affiliate of Cube Hydro Partners, has acquired a 100 percent ownership interest in the Glen Park hydro power generation plant. Glen Park is a 32.65 megawatt run-of-the-river facility on the Black River near Watertown, New York, and is expected to produce approximately 150,000 megawatt-hours of clean electricity per year.
Dr. Kristina M. Johnson, CEO of Cube Hydro Partners and former Under Secretary at the U.S. Department of Energy, said, “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 acquires and modernizes hydroelectric facilities to demonstrate the value of renewable hydropower and reduce our nation’s reliance on carbon-based energy. Cube Hydro Partners currently manages 15 plants in New York, Pennsylvania, Virginia and West Virginia with a total capacity of 159 megawatts 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 megawatts, generating 1.4 million megawatt-hours annually, or enough electricity to power approximately 140,000 homes with renewable energy.
About Cube Hydro: 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 midsized hydro projects in the U.S. and Canada.
About I Squared Capital: 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.