I Squared Capital, a New York-based infrastructure investment manager, bought a 32.65-megawatt hydropower project in upstate New York.
The Glen Park hydro plant on the Black River near Watertown is expected to produce about 150,000 megawatt-hours of power annually, I Squared unit Cube Hydro Partners said in a statement Monday. Terms weren’t disclosed.
Cube Hydro manages 15 plants in New York, Pennsylvania, Virginia and West Virginia, with 159 megawatts of total capacity. It expects to soon manage 19 plants in five states, with more than 373 megawatts of capacity. In July, I Squared agreed to buy and upgrade 215 megawatts of hydro plants in North Carolina from Alcoa Inc.