OPG to buy I Squared Capital's Cube Hydro in $1.12 bln deal
Ontario Power Generation (OPG) has agreed to acquire Cube Hydro Partners, a Bethesda, Maryland-based operator of small and medium-sized hydropower facilities in the northeast and southeast United States. The deal values Cube Hydro at US$1.12 billion ($1.48 billion). It is expected to close in the months ahead. The seller is I Squared Capital, a U.S. infrastructure investment firm. Cube Hydro was formed in 2014 when Enduring Hydro partnered with I Squared to develop and acquire hydropower plants. OPG, an Ontario government-owned electricity generator, said the acquisition will add scale to its U.S. hydro platform, create synergies, and expand opportunities for capital deployment.
26 June 2019•2 mins read
