Cubico Sustainable Investments has partnered with Plenium Partners in the acquisition of a 67 megawatt wind farm in Valencia, Spain. No financial terms were released for the deal, which saw Cubico and Plenium buy the farm from Enerfin, a wind farm developer and operator affiliated with Spain’s Elecnor Renewables. Plenium holds a minority position in the asset and will act as its manager. Cubico, a London-based renewable energy business, is jointly owned by Ontario Teachers’ Pension Plan (OTPP) and Public Sector Pension Investment Board (PSP Investments). Last month, OTPP and PSP bought Banco Santander SA‘s interest in the company.
Cubico Sustainable Investments completes acquisition of 67 MW operating Spanish wind farm from Enerfin
London, 15 August 2016: Cubico Sustainable Investments (“Cubico”), a global leader in renewable energy and water investment, has announced that it has acquired, with its partner Plenium Partners, a 67 MW wind farm in Valencia from Enerfin, one of Spain’s leading wind farm developers and operators and a subsidiary of Elecnor. As a result of this acquisition, Cubico’s portfolio now comprises 30 assets located across eight countries, with a total gross capacity of approximately 2,000 MW installed across a breadth of technologies (wind, solar and water infrastructure).
The acquired wind farm is located in the municipality of Jarafuel in the Valencia region. The wind farm comprises 29 E-70 Enercon wind turbines and has been operational since 2009.
David Swindin, Head of EMEA at Cubico said: “This acquisition adds to our growing portfolio of renewable energy assets and marks our re-entry into the Spanish renewable market. Cubico is excited about the opportunities in Spain and we are looking to grow our assets in the country”.
Plenium Partners holds a minority position in the asset and will act as asset manager. Plenium Partners is an independent operator and investor in the renewable energy sector and co-owns or manages a diversified operating portfolio of 1,175 MW of wind, solar PV, hydro and solar thermal assets with a market value of more than EUR 2.5 bn across Italy and Spain.
For Cubico Sustainable Investments:
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Founded in May 2015, Cubico Sustainable Investments is a major player in the renewable energy sector. Cubico’s global portfolio in eight countries is worth an estimated US$ 2 billion, with an installed gross capacity of approximately 2 GW. The company has a presence in different geographic locations, including the United Kingdom, Ireland, Italy, Spain, Portugal, Brazil, Mexico, and Uruguay. Cubico is headquartered in London and has offices in São Paulo (Brazil), Milan (Italy) and in the Federal District of Mexico.
Photo courtesy of Enerfin/Elecnor