I Squared Capital invests in two new energy development firms

Written By: Stratton Report
February 6, 2017


On February 6, I Squared Capital announced the creation of two portfolio companies via investments by its ISQ Global Infrastructure Fund: Asia Cube Solar, a platform of ground-mounted and rooftop solar farms, and Asia Cube Energy, a platform to develop and operate district energy facilities in China.

According to I Squared, Asia Cube Solar recently acquired five operating ground-mounted solar farms with 143-MWs of installed capacity in Shandong province. The facilities operate under a 20-year feed-in-tariff regulatory framework in China. The company is also developing a pipeline of projects in OECD Asian countries such as Japan and Taiwan.

Per the infrastructure firm, Asia Cube Energy is a dedicated CHP energy management company focused on industrial parks and corporate customers by replacing coal boilers with state-of-the-art natural gas systems to provide electricity, steam and chilled water. Asia Cube Energy was awarded two 30-year concession agreements to design, build and operate CHP facilities at the Maliu Industrial Park in Chongqing province and Si-an county in Zhejiang province.

I Squared Capital claims a global clean energy portfolio of more than 4,300-MWs, in operation or under construction, in 13 countries across the Americas, Europe and Asia.

Gautam Bhandari, Partner at I Squared Capital remarked:

These new platform companies demonstrate our ability to work across geographies to leverage our global operational and investing expertise towards common sectorial opportunities that have very attractive risk-adjusted returns. We now have established solar and/or district energy platforms in the U.S., Latin America, Europe and Asia.