Cubico Sustainable Investments has acquired a 46% stake in a Spanish wind farm.
The company acquired a stake in a 33MW project from Axpo International.
The project La Peñuca is located in Castilla y Leon. It is expected that this latest development would help the company to balance its solar portfolio in Spain.
David Swindin, CEO at Cubico, was quoted in a statement, “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.”
The company stated this is the first transaction, while there would be more in the coming days.
Similarly, José Canales, Country Head for Iberia at Cubico, commented, “La Peñuca is an extraordinary wind site that complements our strategy of targeting the best resource locations. 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.”
According to the company, the project has been developed and is operated by Energías Renovables del Bierzo.
