NEW YORK--(BUSINESS WIRE)--Cube Hydro Partners, LLC, a portfolio company of the ISQ Global Infrastructure Fund and its affiliated funds, is pleased to announce that it has closed on the acquisition of Lyonsdale Associates, LLC from Burrows Paper Corporation and affiliates. Post-acquisition, Lyonsdale has an 82.8 percent interest in Little Falls Hydro, a 13.6-megawatt hydroelectric plant in Little Falls, New York and 100 percent ownership of Lyonsdale Hydro, a 3-MW plant in Lyonsdale, New York. These two run-of-the-river facilities operate under long-term power purchase agreements for a total of 16.6-MW with a multinational electric and gas utility company.
Kristina Johnson, CEO of Cube Hydro, said, “This transaction expands our portfolio of hydropower assets in regional platforms with operational synergies. We continue to pursue the acquisition and optimization of existing hydro assets, as well as the development of new projects at un-powered dams and irrigation canals.”
Adil Rahmathulla, Partner at I Squared Capital, said, “We are pleased with the robust growth of Cube Hydro as it develops into a geographically and customer diversified portfolio of hydropower assets in North America.”
Thomas Lefebvre, Managing Director at I Squared Capital, said, “Lyonsdale’s facilities produce clean and sustainable electricity for schools, homes and businesses in upstate New York, while generating an immediate yield for I Squared’s investors. The acquisition of Lyonsdale continues I Squared Capital’s strategy of investing in low-carbon, high efficiency power generation.”
About Cube Hydro Partners: Led by former U.S. Undersecretary of Energy Kristina Johnson, Cube Hydro is a hydropower development and operating platform targeting investments in mid-sized greenfield and operating hydro projects in the U.S. and Canada. Cube Hydro is a portfolio company of the ISQ Global Infrastructure Fund and its affiliated funds.
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.
