Cubico acquires 3 renewables projects in Uruguay
Transactions - SEPTEMBER 25, 2023

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Cubico acquires 3 renewables projects in Uruguay

by Kali Persall

Cubico Sustainable Investments, one of the world’s largest privately owned renewable-energy companies, has acquired three operational projects in Uruguay from Brookfield, pushing the company’s renewables capacity in the country to more than 320 megawatts.

The transaction consists of two wind farms — the 52-megawatt Carape I and 43-megawatt Carape II in Maldonado — and one solar PV plant, the 26-megawatt Alto Cielo in Artigas.

“This is another important milestone for Cubico, significantly strengthening our position as the largest private owner of renewables in Uruguay and one of the largest in the world,” said Javier Pérez del Castillo, country manager for Uruguay at Cubico. “Through this acquisition, we are very pleased to have diversified our Uruguayan asset base and expanded our local team, enhancing our technical and financial capabilities.”

Financial terms of the transaction were not disclosed.

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