The 105.6MW PV portfolio is comprised of 18 projects in Italy. Image: Pete Jelliffe / Flickr
Renewable energy investment company Cubico announced Friday that they have acquired a solar portfolio of 18 projects in Italy.
The portfolio, totalling 105.6MW in generation capacity, was acquired from Silver Ridge Power Italia – a joint venture between Riverstone and SunEdison.
Located in three regions across Italy (Apulia, Lazio and Sicily), the solar projects range from 1MW to 43MW and all became operational between 2010 and 2013. The portfolio stands as one of the largest solar portfolios in Italy.
The plants are owned by nine different special purpose vehicles – with most financed through project financing structures provided by four pools of banks. As a result of the acquisition, Cubico’s Italian assets now feature 21 projects with a total capacity of 205MW.
David Swindin, head of EMEA at Cubico, said: “We have a long history in Italy and this acquisition gives Cubico the opportunity to become one of the largest owners of PV in the country as well as our current wind portfolio. We are delighted to have worked with Riverstone on the acquisition and look forward to further expanding our portfolio in the country in the future.”
Mar 10 - Mar 12, 2021
Penang, Malaysia (also available virtually)
Understand fully the technical and logistical supply chains that determine the production and performance of solar modules, including all related factors impacting quality, reliability & bankability. This event will be run as a live event in Penang for delegates able to attend and will also welcome virtual delegates via streamed content and online networking.
Feb 03 - Feb 04, 2021
The business of solar is changing, as the industry scales up, technology, IT and new players to the market will add complexity. This sparks a host of opportunities such as co-location of solar and storage and the rise of unsubsidised solar projects as well as challenges which will question the very business model of European solar asset owners. Solar Finance & Investment Europe is the meeting place for institutional investors, sovereign wealth funds, solar, wind and storage funds and large energy buyers to do business.