Cubico Sustainable Investments has joined forces with Peel NRE to develop onshore wind and solar projects amounting to over 500MW across the UK.
The partnership will originate, develop and operate a portfolio of projects over the next five to 10 years to reach 500MW over this time.
Projects to sit under the newly formed Peel Cubico Renewables joint venture will be a combination of grid-scale and private wire developments, providing renewable electricity to the grid or directly to end users to help decarbonise energy intensive businesses.
Peel NRE, part of regeneration business Peel L&P, has a 20 year track record in delivering early stage development projects using its own estate where appropriate.
Cubico has an installed capacity of more than 4GW across 12 countries in Europe, the Americas and Oceania and will bring its experience in financing, route to market, construction and operation.
Peel NRE launched in January this year and combines the expertise of its former energy, environmental and water teams.
Cubico Northern Europe head Matt Boss said: “As an established owner and operator of wind and solar PV projects across the UK, Cubico is excited to partner with Peel NRE to develop the next generation of renewable projects and provide more communities and businesses with the benefits of clean power.
“We look forward to combining our skills and capabilities as we work towards achieving our joint goal of advancing the energy transition we so urgently need.”