Davis Polk is advising I Squared Capital on its sale of Cube Hydro Partners and its affiliate, Helix Partners, to Ontario Power Generation. The transaction is expected to close in the coming months following standard regulatory approvals.

I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, telecommunications and transport in the Americas, Europe and select high-growth economies. Cube Hydro buys, develops and modernizes hydropower projects in North America. Cube Hydro and its affiliates own and operate 19 hydropower plants on ten rivers in five states with a combined capacity of 385 megawatts, generating 1.5 million megawatt-hours annually, or enough electricity to power approximately 147,000 homes with renewable energy. Ontario Power Generation produces almost half of the electricity that Ontario homes, schools, hospitals and businesses rely on each day.

The Davis Polk corporate team includes partner Leonard Kreynin and counsel Ajay B. Lele. Partner Rachel D. Kleinberg is providing tax advice. Members of the Davis Polk team are based in the New York and Northern California offices.

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