Cubico Sustainable Investments has completed two transactions that it says enhances the company’s footprint and development portfolio in Mexico to more than 1600MW.
Through the acquisition of Renantis Mexico and a strategic agreement with Sowitec Group, the additional capacity comprises at least 12 solar and hybrid projects across 7 states and in various stages of development.
These two transactions push the total size of the business’ Mexican portfolio to 2.2GW, with Cubico’s three operational projects, Mezquite and Solem 1 and 2.
Several of the new projects in Cubico’s portfolio are in regions such as the Yucatan peninsula, that are experiencing high levels of fossil fuel electricity generation, significant energy demand growth driven by nearshoring, and supply reliability challenges, offering unique opportunities for clean energy development.
Osvaldo Rance, country head for Mexico at Cubico Sustainable Investments, said: “We are delighted to announce the completion of these two transactions which reinforce our commitment to delivering projects that will contribute to both reducing greenhouse gas emissions and driving Mexico’s future economic growth.
“We are confident that these projects will play a vital role in meeting the growing demand for clean energy in the region. Looking ahead, we will be seeking both public and private offtakers.”