I Squared Capital Establishes Renewable Energy Platform, Cube Green Energy | Your money
LONDON – (BUSINESS WIRE) – October 5, 2021–
I Squared Capital, one of the world’s leading infrastructure investors, has created Cube Green Energy, a renewable energy platform dedicated to accelerating the energy transition towards a zero carbon economy. The platform will develop, replenish, build and operate wind and solar farms, and invest in the deployment of related emerging technologies such as battery storage and green hydrogen. Cube Green Energy’s initial focus will be mature renewable energy markets in continental Europe that are at the forefront of the energy transition.
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Cube Green Energy is led by former senior executives from GE Energy Financial Services (GE EFS), the energy investment arm of General Electric Company, with over 70 years of combined experience in global electricity markets, including more than 40 years in renewable energies.
Cube Green Energy CEO Raghuveer Kurada has held various leadership roles at GE EFS, including successfully closing and managing over $ 10 billion worth of value-generating investments globally as a lead execution of global transactions. Most recently, he was responsible for raising over $ 6 billion in equity and third party debt for GE projects as head of Global Capital Advisory.
The other members of the management team are Sharad Jain, Niko Meissner and Hussain Shalchi. Sharad Jain has over 25 years and over 15 GW of investment experience in the global energy industry and brings extensive industry knowledge in asset investing, management and financial structuring. Niko Meissner has over 15 years of experience in renewable energy development with GE Power, GE EFS, Vestas and more recently Aquila Capital having managed the development of over 6 GW of power generation capacity and will play a decisive role in establishing German operations which is one of the largest target markets. Hussain Shalchi has held various leadership positions in the energy sector, including as Managing Director and Global Advisor at GE EFS and most recently as Head of Strategic Joint Venture at Ørsted.
“I Squared Capital has invested more than $ 6.5 billion in transitional energy, including $ 4 billion in 12 renewable energy companies around the world since 2014, and we are pursuing this strategy with a management team of world class that brings in-depth experience, industry knowledge and a field presence. to meet unmet market demand, ”said Gautam Bhandari, Managing Partner at I Squared Capital. “Using our platform building strategy, we plan to initially commit up to $ 500 million over the next few years to make Cube Green Energy a leading renewable energy company that can help enable Europe’s transition to a zero carbon economy. “
“Businesses and governments must innovate to replace baseload electricity with renewables in order to achieve ambitious climate goals,” said Raghuveer Kurada, CEO of Cube Green Energy. “With the mandate to invest in more efficient and emerging technologies and sector expertise throughout the project cycle, Cube Green Energy and I Squared Capital are well positioned to enable the transition to renewable energy 2.0 in continental Europe and the rest of the world. -of the. “
About I Squared Capital
I Squared Capital is an independent global infrastructure investment manager with over $ 30 billion in assets under management focused on energy, utilities, digital infrastructure, transportation and social infrastructure in North America , in Europe, Latin America and Asia. The firm has offices in Miami, Hong Kong, London, New Delhi and Singapore.
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CONTACT: Andreas Moon
Managing Director and Head of Investor Relations
I squared the capital
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PUB: 05/10/2021 1:00 a.m. / DISC: 05/10/2021 01:02 a.m.
Copyright Business Wire 2021.