Cubico Sustainable Investments has joined hands with ZEG Energias Renováveis (ZEG) to acquire a 1GW solar project in Brazil.
The company entered into an agreement for the solar project which is currently under development.
It has been informed that the partnership is for a large solar complex known as Project Sobral. The project is located in the municipalities of Sobral and Santana do Acaraú in the state of Ceará.
Francisco Moya, Country Head of Brazil and Rest of Latam at Cubico, commented, “This important acquisition consolidates our presence in Latin America and marks the start of our new renewables platform in Brazil after recent strategic divestments in the country.
According to the company, this is its first investment in solar assets in Brazil.
Moya further stated that they “will be actively looking to grow the portfolio through the acquisition and development of other PV and onshore wind projects."
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