Cubico Sustainable Investments has acquired three operational renewable energy projects in Uruguay from Brookfield.
The transaction comprises two wind farms, the 52MW Carape I and 43MW Carape II in Maldonado; and one solar PV plant, the 26MW Alto Cielo project in Artigas.
This significant acquisition pushes Cubico’s renewables capacity in Uruguay to over 320MW.
Javier Areitio, Head of Origination and Development at Cubico, said: “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 prioritising the pursuit of synergies and a 24/7 generation profile in each country where we operate.”
Javier Perez del Castillo, Country Manager for Uruguay at Cubico, added: “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.”