
The investor that owns HGC Global Communications and the former infrastructure division of GTT Communications is to spend up to US$500 million in renewable energy in Europe.
I Squared Capital (ISQ), which bought HGC for $1.9 billion four years ago and then what is now Exa Infrastructure for $2.1 billion last month, said it has set up Cube Green Energy as a “renewable energy platform dedicated to accelerating the energy transition to a zero-carbon economy”.
Gautam Bhandari and his colleagues have collected a group of energy executives to run the new venture, including CEO Raghuveer Kurada, formerly of General Electric’s Energy Financial Services, and Hussain Shalchi, former head of strategic joint venture at Danish power company Ørsted.
Bhandari said that the new operation follows ISQ’s existing investments in the area. It “has invested over $6.5 billion in transition energy, including $4 billion in 12 renewable energy companies globally since 2014, and we are continuing that strategy with a world-class management team that brings deep experience, industry knowledge and on-the-ground presence to address an unmet market demand”
About Cube Green Energy
Cube Green Energy is an independent power producer and developer focussed on the repowering of onshore wind farms and deployment of PV and battery storage solutions in Continental Europe. A portfolio company of I Squared Capital, Cube Green Energy has a mission to accelerate Europe’s shift to a zero-carbon economy by upgrading and repowering existing onshore wind farms, developing new renewable energy farms and deploying state-of-the-art battery storage solutions to enable a 24/7 renewable energy future. For additional information about Cube Green Energy, please visit our website at www.cubegreenenergy.com/
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Hussain Shalchi
Chief Operating Officer & General Counsel