Infrastructure investment manager I Squared announced today the launch of Cube Green Energy, a renewable energy platform dedicated to accelerating the energy transition to a net-zero carbon economy.
The new platform aims to develop, repower, construct and operate wind and solar farms, and to invest in the deployment of associated emerging technologies such as battery storage and green hydrogen. I Squared stated that the platform will initially focus on mature renewables markets in Continental Europe that are at the forefront of the energy transition.
Raghuveer Kurada, Cube Green Energy’s CEO, said:
“Companies and governments must innovate to replace base load power with renewables to meet ambitious climate targets. With a mandate to invest in more efficient and emerging technologies and sector expertise across the project cycle, Cube Green Energy and I Squared Capital are well placed to enable the Renewables 2.0 transition in Continental Europe and beyond.”
Cube Green Energy is led by former senior executives from General Electric’s investment arm, GE Energy Financial Services (GE EFS). The platform’s CEO, Raghuveer Kurada, has held various leadership roles at GE EFS, most recently serving as Head of Global Capital Advisory, with responsibilities including raising over $6 billion in third party equity and debt for the company’s projects.
Gautam Bhandari, Managing Partner at I Squared Capital, said:
“I Squared Capital 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. Using our platform building strategy, we look to initially commit up to $500 million over the coming years to build Cube Green Energy into a leading renewables company that can help enable Europe’s transition to a zero-carbon economy.”