Cubico Sustainable Investments expands renewables in Uruguay

Founded in May 2015, Cubico Sustainable Investments is one of the world’s largest privately-owned renewable energy companies, with an installed gross capacity of more than 2.8 GW over 11 countries and nearly 700 MW in construction and a 4.8 GW development pipeline. 

Headquartered in London, the company has has offices in São Paulo (Brazil), Athens (Greece), Milan (Italy), Austin and New York (US), Mexico City (Mexico), Madrid (Spain), Sydney, Melbourne and Brisbane (Australia), Montevideo (Uruguay) and Bogotá (Colombia).

Renewable energy across South America

Cubico is expanding its operations across South America with the acquisition of 121 MW of renewable energy  projects. 

The transaction comprises two wind farms, 52 MW Carape I and 43 MW Carape II in Maldonado; and one solar PV plant, 26 MW Alto Cielo in Artigas.

“This deal aligns with one of the pillars of our global growth strategy: increasing and diversifying our installed capacity in each of our existing markets, rather than expanding our geographical footprint,” says Javier Areitio, Head of Origination and Development at Cubico.

“As we build our clean energy portfolio, we are prioritising the pursuit of synergies and a 24/7 generation profile in each country where we operate.”

This expands Cubico’s renewables capacity in Uruguay to over 320 MW, further consolidating the company’s position as the largest individual private owner of renewable assets in the country.

“This is another important milestone for Cubico, significantly strengthening our position as the largest private owner of renewables in Uruguay and one of the largest in the world,” comments Javier Pérez del Castillo, Country Manager for Uruguay at Cubico.

“Through this acquisition, we are very pleased to have diversified our Uruguayan asset base and expanded our local team, enhancing our technical and financial capabilities.”

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