Cubico Sustainable Investments acquires 392 MW wind assets in Brazil

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Cubico Sustainable Investments acquires 392 MW wind assets in Brazil

Cubico Sustainable Investments, the renewable energy and water investment firm owned by Santander, Ontario Teachers' Pension Plan and Public Sector Pension Investment Board (PSP Investments), acquired in December several wind assets with a total capacity of 392 MW from Casa dos Ventos Energias Renovaveis SA in Brazil.

The total value of the transaction is close to R$2 billion (US$493.5 million). The transaction is the biggest deal involving operational wind assets ever executed in Brazil.

The deal included the following wind farms:

  • “Ventos de Santa Brígida”, located in Caetés (Pernambuco) - 182MW
  • “Ventos do Araripe I”, located in Simões (Piauí) - 210MW.

The assets represented one third of the operational assets of Casa dos Ventos Energias Renovaveis.

The transaction has already been approved by Brazilian regulator Conselho Administrativo de Defesa Econômica (Cade).

Casa dos Ventos Energias Renovaveis expects to reinvest the proceeds of the transaction in the other assets under development.

London-based Cubico, which was formed in May 2015 with an initial 19 renewable energy and water infrastructure assets totalling over 1.4 GW, now has 615 MW of wind power capacity in Brazil. Its objective is to double its size within five years, according to sources.

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