The company opens an office in São Paulo to evaluate investment opportunities in the country as well as in the other Latin America markets such as Peru, Colombia, Uruguay, Panama and Costa Rica
Sao Paulo, 13 January 2016 – One of the global leaders in the renewable energy sector and water investment, Cubico Sustainable Investments (Cubico) announces the opening of an office in São Paulo and the acquisition of two wind farm complexes from Casa dos Ventos, in a transaction done late last year and considered to be the largest one involving wind farms in operation in Brazil in 2015. This is the first investment by Cubico in Brazil and includes the Caetés plant (182 MW) in Pernambuco state, and the Ventos do Araripe I plant (210 MW), in Piauí state. The investment, including assets and debt taken on, is approximately R$2 billion (base date 31/12/2015), which now belong to and are administered by Cubico. The transaction has been approved by Brazil’s antitrust body, CADE.
Founded in May 2015 and headquartered in London, Cubico is an investor and manager of long-term global assets in renewable energy and water investments, belonging to three investors: Banco Santander SA; the Ontario Teachers’ Pension Plan (OTPP); and Canada’s Public Sector Pension Investment Board (PSP Investments). With the completion of the transaction to acquire two wind farm complexes from Casa dos Ventos, Cubico adds 392 MW to its portfolio in Brazil which, added to the existing 223 MW (transferred from Santander’s former global portfolio of renewable energy assets), means the company has 615 MW of operating wind assets in Brazil and makes it the third-largest player in the wind energy sector in the country, according to the industry body ABEEólica.
