Latin America, Strategic Development, Wind

Cubico boosts Uruguay portfolio with 50 MW wind farm acquisition

Cubico Sustainable Investments (Cubico), a global investor in renewable energy, has acquired Astidey S.A. – a 50 MW operational wind farm in Uruguay.

The plant is located in Flores in the southwest of Uruguay and became operational in 2015.

Cubico acquired the wind farm from a group of investors and as a result, their portfolio in Uruguay now comprises two wind assets with a total capacity of 100 MW.

News out of Latin America
EIB funds first water and sanitation project in Brazil
MHPS and Shell to build 565 MW gas plant in Brazil

Ricardo Díaz, head of Americas at Cubico, said: “We have had a historical presence in Uruguay and this acquisition further strengthens our footprint in the country, positioning our platform for additional growth in the near future. This transaction helps to consolidate our position as a leader in the renewable energy sector in the Americas.”

Francisco Moya, head of Brazil and Latam at Cubico, added: “We have been looking at the country for some time and are delighted to be able to close another acquisition, which positions us as one of the largest owners of renewable energy assets in Uruguay. We are very keen to expand our portfolio in the country and having a local presence through our office in Montevideo will help us to be closer to the projects.”