Cubico gets 274MW mediterranean solar

Jun 30, 2021 08:00 PM ET
  • Staying minority risk in Grupo T-Solar sold by MEAG
Cubico gets 274MW mediterranean solar
Image: Cubico

Cubico Sustainable Investments (Cubico) has actually completed the acquisition of the continuing to be minority shareholding of Grupo T-Solar from MEAG.

The bargain makes Cubico the sole proprietor of the entire Grupo T-Solar platform, which comprises 274MW of functional assets and also a significant development pipeline across Spain and Italy.

The system's 47 functional properties consist of 167MW of solar PV as well as 100MW of concentrated solar energy (CSP) throughout Spain, in addition to 7MW of solar PV in Italy.

Following this most current procurement, Cubico's overall operational capacity in Iberia boosts to 542MW, consisting of a diversified portfolio of wind, solar PV and also CSP possessions.

Cubico head of EMEA David Swindin stated: "The purchase of the continuing to be equity stake from MEAG remains in line with our original investment method to obtain 100% of the platform and will certainly allow us the flexibility to optimize the portfolio.

" The bigger purchase lines up with our technique to grow business using projects which deliver steady, high-grade cash flows to our shareholders over the lasting."

Cubico head of Iberia José Canales included: "We are very happy to have actually advanced our placement as one of the principals in Iberia's renewables market.

" We have one of the biggest portfolios of solar projects benefiting from the previous regulatory regime, which will both give Cubico extremely got revenues and also raise its EBITDA to more than EUR250m in the Iberian Peninsula."

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