Cubico Sustainable Investments has successfully completed the acquisition of three operational renewable energy projects in Uruguay from Brookfield, a notable move that further solidifies Cubico's presence in the country.
The transaction encompasses two wind farms: the 52MW Carape I and the 43MW Carape II, both located in Maldonado. Additionally, it includes the purchase of the 26MW Alto Cielo solar PV plant in Artigas. This strategic acquisition significantly bolsters Cubico's renewable energy capacity in Uruguay, elevating it to over 320MW.
Javier Areitio, Head of Origination and Development at Cubico, underscored the significance of this deal within the context of the company's global growth strategy. He noted, “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. As we build our clean energy portfolio, we are prioritizing the pursuit of synergies and a 24/7 generation profile in each country where we operate.”
See also: Cubico acquires 1 GW Solar Development Project in Brazil from ZEG
Javier Perez del Castillo, Country Manager for Uruguay at Cubico, echoed the sentiment of achievement and growth. He commented, “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. 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.”
With this acquisition, Cubico Sustainable Investments continues to play a pivotal role in advancing Uruguay's renewable energy landscape while expanding its own clean energy footprint in the region.
