The Lake Lynn Hydro Station and allied facilities on Cheat Lake have been purchased by Cube Hydro, effective February 19, 2015. The Lake Lynn facility has a capacity of 53 megawatts.
http://finance.yahoo.com/news/squared-capital-grows-cube-hydro-231900530.htm...
I Squared Capital grows its Cube Hydro platform by investing in ten run-of-the-river power plants in the U.S. Mid-Atlantic States
NEW YORK--(BUSINESS WIRE)--
Cube Hydro Partners, LLC, a portfolio company of the ISQ Global Infrastructure Fund, has acquired a 100 percent ownership interest in ten run-of-the-river hydro facilities from Harbor Hydro, LLC, a portfolio company of LS Power Equity Advisors. Totaling 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.
Kristina Johnson, CEO of Cube Hydro said, “Hydropower is the original renewable source of electricity. We are excited to add these ten plants to our platform.”
“These additional assets allow us to optimize the performance of our existing portfolio and drive long-term value,” said John Collins, Managing Director of Cube Hydro. “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.”
“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,” said Thomas Lefebvre, Managing Director at I Squared Capital. “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.”
About Cube Hydro Partners: 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.
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.
Duane Nichols, Cell- 304-216-5535, www.FrackCheckWV.net