Cubico acquires solar portfolio in UK

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Cubico acquires solar portfolio in UK

Cubico Sustainable Investments, the global leader in renewable energy and water investment, has announced it has acquires ten operational solar projects in UK with a total capacity of 65 MW from British Solar Renewables (BSR).

The 10 solar parks, principally located in South West of England, are: Hadlow (19MW), Barton Close (4.6MW), Newlands (5MW), Bake Farms (5MW), Grantham (5MW) Overton (4MW) Wisbech (3MW) Southfield Farm (10MW), Kinblethmont (5MW) and New Mains of Guynd (5MW), the Scotland’s largest solar park in County Angus

The projects will be added to Cubicos's portfolio, which now consists of 29 assets including wind, solar, and water infrastructure, distributed along 8 different countries, with a total capacity of 1,900 MW.

BSR, specialized in the construction of solar parks, designed, built and connected to the grid the parks and after the acquisition, it will be in charge of the operations and maintenance of the plants, as part of a long-term relationship between the two companies established by the deal.

Cubico has also accomplished the financial close of eight of this solar parks under a portfolio financing facility with National Australia Bank. Moreover, the other two parks are expected to enter the facility shortly, taking the total debt to £60 million (US$79.5 million) on the total acquired BSR portfolio.

David Swindin, Head of EMEA at Cubico said: 

“This acquisition adds to our growing portfolio of renewable energy assets in the UK, which is now our second largest market globally. The transaction with BSR was completed swiftly and we now look forward to enjoying a close relationship with the company.”

David Peill, Commercial Director at BSR, said:

“We are delighted to have completed the successful sale of this portfolio of solar assets to Cubico, and look forward to continuing to build our relationship with such a capable purchaser and financier of renewable energy assets. The sale of these completed projects enables us to recycle our capital and focus on developing out our 1.2 ROC pipeline of projects using our in-house EPC and ICP teams.”

List of country news

Country news

  • July 11, 2016

    Lightsource Renewable Energy appoints head of equity fundraising

    Lightsource Renewable Energy, Europe’s leading solar energy generator, has recently announced the appointment of Shane Swords as Head of Equity Fundraising. Read more
  • July 08, 2016

    AXA Investment Managers boosts Responsible Investment team with new hire

    AXA Investment Managers (AXA IM) has announced the appointment of Alix Chosson as Energy Fundamentals Analyst within the firm’s Responsible Investment (RI) team. Read more
  • July 11, 2016

    Stonepeak Infrastructure acquires 50% of Golar LNG

    Golar LNG Limited has announced that it has entered into a 50/50 joint venture with investment vehicles affiliated with private equity firm Stonepeak Infrastructure Partners. The joint venture company, Golar Power Ltd, will offer integrated LNG based downstream solutions, through the ownership and operation of floating storage and regasification units (FSRUs) and associated terminal and power generation infrastructure. Subsequent to the formation of Golar Power and the contribution of the above mentioned assets, Golar LNG Limited has sold a 50% interest in Golar Power to Stonepeak. Read more
  • July 06, 2016

    Quercus refinances three solar farms in UK

    Quercus Assets Selection has announced the successful portfolio debt financing of the following UK solar photovoltaic plants: Sidlesham, Burton and Stanton. Read more
  • July 06, 2016

    Greencoat UK Wind has announced it had purchased Screggagh Wind Farm in Northern Ireland

    Greencoat UK Wind has announced it had purchased Screggagh Wind Farm in Northern Ireland for £27 million (US$35.9 million), increasing its net generating capacity to 420 MW. The company expects no material change to its business resulting from the UK vote to leave the European Union. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.