Cubico Sustainable Investments (Cubico), one of the world’s largest privately-owned renewable energy companies, has completed the acquisition of two operational wind projects in Uruguay from ACS.
The transaction comprises two wind farms: 49MW Kiyu in San José and 53MW Pastorale in Flores, with Sowitec’s minority shareholding being acquired for the latter too.
The milestone acquisition more than doubles Cubico’s operational wind capacity in Uruguay to over 200MW, making it the largest individual private owner of renewable assets in the country, according to the company.
It is actively looking to further grow its portfolio in Uruguay through solar PV and other onshore wind opportunities, as well as incipient hydrogen developments.
Cubico chief executive David Swindin said: “Cubico has had a presence in Uruguay since the company’s formation and I’m delighted that, with this acquisition, we have become the largest private owner of renewables in the country.
“I hope that we will see further growth in our Latin American business over the coming period.”
Cubico country head for Brazil and Rest of Latam at Cubico Francisco Moya said: “The acquisition of these projects is an important milestone for Cubico in Latin America, positioning us as one of the largest owners of renewables in the region.
“This transaction is further evidence of our commitment to advancing the growth of green energy and bringing clean power to people and organisations around the world.”