September 25 (Renewables Now) - Cubico Sustainable Investments has bolstered to 320 MW its overall renewables capacity in Uruguay with the acquisition of two wind farms and one solar plant, all of which are already operational.
The UK renewables investor has bought the Carape I and Carape II onshore wind farms in Maldonado, with a capacity of 52 MW and 43 MW, respectively. It has also purchased the 26-MW Alto Cielo solar site in Artigas.
The assets were acquired from a unit of Brookfield Renewable Partners LP (NYSE:BEP).
“This deal aligns with one of the pillars of our global growth strategy: increasing and diversifying our installed capacity in each of our existing markets, rather than expanding our geographical footprint,” said Javier Areitio, head of origination and development at Cubico.
Cubico has a portfolio of 2.8 GW of installed capacity and 680 MW under construction. The company has more than 190 assets across 11 countries, according to its website.