I Squared Capital's Cube Green Energy buys 28-MW wind trio in Germany

Cube Green Energy, a renewables platform launched a year ago by I Squared Capital, has acquired three German onshore wind farms with a combined capacity of 28 MW, it was announced today.

In total, the independent power producer (IPP) has invested in 17 wind turbines with an average operating life of 21 years and has plans to upgrade or repower the existing technology in order to more than triple power production at the sites. The possibility of adding utility-scale batteries for energy storage will also be considered.

Cube Green Energy said that the purchased assets are located across two states in Germany, but did not specify which ones.

The platform was launched in October 2021 with the intention of investing an initial USD 500 million (EUR 477.9m) over the coming years. The newly-acquired wind farms are its maiden investments but it also has a development pipeline of more than 70 MW, including projects that will reach the shovel-ready state in three to four years.

(USD 1 = EUR 0.956)

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