Global infrastructure investment management company I Squared Capital has created two portfolio companies to expand its presence in the clean energy sector.

The companies include Asia Cube Solar, a platform of ground-mounted and rooftop solar farms and Asia Cube Energy, a platform to develop and operate district energy facilities in China.

I Squared Capital said that the platforms increase its global clean energy portfolio to more than 4,300MW, in operation or under construction, in 13 countries.

I Squared Capital partner Gautam Bhandari said: “These new platform companies demonstrate our ability to work across geographies to leverage our global operational and investing expertise towards common sectorial opportunities that have very attractive risk-adjusted returns.

“We now have established solar and/or district energy platforms in the US, Latin America, Europe and Asia.”

The company’s wholly-owned renewable energy platform Asia Cube Solar recently purchased five operating ground-mounted solar farms with 143MW of installed capacity in Shandong province.

The acquired facilities operate under a 20-year feed-in-tariff regulatory framework in China.

On the other hand, Asia Cube Energy is a combined heat and power (CHP) energy management company that helps industrial parks and corporate customers reduce energy costs and carbon emissions.

It assists its customers by replacing coal boilers with natural gas systems to provide electricity, steam and chilled water.

Asia Cube Energy secured two 30-year concession agreements to design, build and operate CHP facilities at the Maliu Industrial Park in Chongqing province and Si-an county in Zhejiang province.

In March last year, I Squared Capital announced that it will acquire energy company Viridian from Arcapita. With more than 480 employees, Viridian operated across Northern Ireland and Ireland.