Cubico Sustainable Investments has acquired a 46% stake in Parque Eolico La Peñuca S.L., the owner of an onshore wind farm in Spain. Cubico acquired its stake in the 33 MW Spanish wind farm from Axpo International S.A.
David Swindin, CEO at Cubico, said: “I’m delighted that we were able to complete this transaction with Axpo. We have ambitious growth plans globally and this will give us an opportunity to look at our first repowering project in Iberia using the development skills that we are investing heavily in throughout the company. I anticipate that this will be the first of many such transactions.”
José Canales, Country Head for Iberia at Cubico, added: “The project will allow us to balance our predominantly solar portfolio in Iberia by adding additional wind generation, which should lead to better final market capture prices.”