January 16 (Renewables Now) - UK’s Cubico Sustainable Investments has acquired the owner of a 50-MW wind park in Uruguay from an unnamed group of investors, it announced on Wednesday.
With the purchase of Astidey SA, the value of which was not disclosed, the UK group has expanded its portfolio in Uruguay to 100 MW. “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,” said Ricardo Diaz, head of Americas at Cubico.
The newly-acquired asset is located in the department of Flores in the southwestern part of Uruguay. The power plant has been generating electricity since 2015.
The London-based renewables investor has been looking to grow its business in Uruguay “for some time,” noted Francisco Moya, head of Brazil and rest of Latin America and added that the latest acquisition places the company among the largest owners of renewable energy assets in the South American country.
Cubico has a global portfolio totalling almost 3.1 GW, spread across 11 countries.