Cubico to buy 580MW portfolio from Cypress Creek Renewables

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Cypress Creek will stay on for EPC and O&M duties. Source: Cypress Creek Renewables.

Cubico Sustainable Investments will acquire a 580MW portfolio of solar projects from US developer Cypress Creek Renewables.

The projects mark Cubico’s first in the US market.

One of the five projects has already reached financial close. The sites are split across Texas and the Carolinas.

“We are very proud of having reached this ground-breaking milestone to enter the US market that further consolidates Cubico in the Americas, after having created one of the leading renewable energy platforms in Latin America,” said Ricardo Diaz, head of Americas at Cubico. “We now plan to continue consolidating our presence in the market supporting developers to achieve their clean energy ambitions in the country,” he added.

The remaining four projects will close in the first half of 2019 with all expected to be operational by the end of 2020. In addition to debt and tax equity, Cubico is putting in US$165 million of equity.

Cypress Creek will stay on as the engineering, procurement and construction provider as well as fulfilling operations & maintenance duties.

Read Next

February 24, 2021
Microinverter supplier to use proceeds to repurchase notes due 2024 and 2025 as well as other corporate purposes
February 18, 2021
Solar assets in Texas have continued to generate despite the weather, but policy remains a hurdle to them aiding the grid
February 15, 2021
Longroad Energy to acquire ~900MWdc of solar, with battery storage additions also to be considered.
February 15, 2021
US utility Duke Energy should refile its 2020 integrated resource plan (IRP) to effectively allow for the diversity benefits of solar and storage to be captured, it has been argued by energy consulting firm E3.
February 11, 2021
Oil and gas major Shell has said it will spend between US$2 billion and US$3 billion on renewables and energy solutions annually to help it attain net zero status by 2050.
February 8, 2021
Major inverter manufacturer SMA Solar Technology has reported preliminary full-year 2020 financial results which met the low end of guidance but also reported a slight decline in fourth quarter sales coupled to plummeting gross margins.

Subscribe to Newsletter

Upcoming Events

Solar Media Events, Upcoming Webinars
March 9, 2021
Solar Media Events
March 17, 2021
Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021