Davis Polk is advising Cube Hydro Carolinas LLC, an affiliate of Cube Hydro Partners, LLC, in connection with its agreement to purchase and upgrade four hydroelectric power plants located on the Yadkin River in North Carolina from Alcoa Power Generating Inc., a subsidiary of Alcoa Inc. The four facilities, known as High Rock, Tuckertown, Narrows and Falls, total 215 megawatts and are expected to produce nearly 800,000 megawatt-hours of clean electricity per year.

Cube Hydro, a portfolio company of I Squared Capital, is a hydropower development and operating platform targeting investments in mid-sized hydro projects in the United States and Canada. For nearly 100 years, Alcoa-Yadkin has been generating clean renewable energy from a series of hydroelectric dams along the Yadkin River in central North Carolina.

The Davis Polk corporate team includes partner Leonard Kreynin and associates Andrew D. Krause and Bo Wang. Counsel Lawrence R. Plotkin and associate Noah S. Daniels are providing real estate advice. Counsel Ron M. Aizen is providing executive compensation advice. Partner Rachel D. Kleinberg is providing tax advice. Partner Pritesh P. Shah is providing intellectual property and technology advice. Counsel Mary K. Marks is providing antitrust and competition advice. Members of the Davis Polk team are based in the New York and Northern California offices.

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