I Squared Capital sells Chenya Energy to Marubeni in Taiwan

I Squared Capital, through its ISQ Global Infrastructure Fund I, has completed the sale of Chenya to Marubeni Corporation.

Chenya is a dedicated development, construction and operating platform in Taiwan and was a wholly owned subsidiary of Asia Cube Energy, a pan-Asian portfolio company founded by I Squared Capital in 2017.

 “In three years under I Squared Capital’s stewardship, Chenya grew from 2.3 to 344.4 megawatts of capacity across multiple technologies, including floating, ground-mounted and rooftop solutions. The company is currently building the world’s largest floating and has grown rapidly to become the largest platform in Taiwan,” said Gautam Bhandari, Managing Partner at I Squared Capital.

“This is I Squared Capital’s third platform realization in emerging markets and adds to our track-record of creating value for our investors through building world-class infrastructure growth companies that are highly valued by strategic buyers. I Squared Capital remains active in looking for attractive opportunities around the world,” He added. 

ISQ Global Infrastructure Fund I portfolio has realized approximately $1.8 billion in equity value from its platforms alone.

Other platform realizations include Kendall Green Energy (a cogeneration facility in Cambridge, Massachusetts) to Veolia, Cube Hydro (one of the largest independent hydroelectric companies in the U.S.) to Ontario Power Generation, Lincoln Clean Energy (a leading onshore developer in the U.S. with 800 megawatts) to Ørsted, and Amplus Solar (the preeminent provider of rooftop systems for the Indian commercial and industrial market with over 344 megawatts) to Petronas.

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