Cubico agrees to acquire three solar PV projects in Portugal

Cubico Sustainable Investments has announced that it has entered into agreements to acquire three operational, fixed-tilt, ground-mounted solar photovoltaic projects in the Algarve, Portugal, totalling 29.4MW, from CEF Energia Ibérica B.V., a solar power plant company backed by Glennmont Partners. The projects involved are:

• 15.8 MW Avalades solar project
• 6.8 MW Sol Cativante V solar project
• 6.8 MW Ferreiras solar project

Following the acquisition, Cubico’s Iberian portfolio will comprise eight assets, with a total capacity of 209 MW, across solar PV, solar thermal and wind technologies.

Cubico’s team in Madrid will be responsible for managing the plants going forward and Voltalia will continue to provide full-scope O&M services.