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Cubico Sustainable Investments takes full control of Peel Cubico Renewables
Transactions - JANUARY 25, 2024

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Cubico Sustainable Investments takes full control of Peel Cubico Renewables

by Kali Persall

Cubico Sustainable Investments, a renewable-energy and water-infrastructure company jointly owned by Ontario Teachers’ Pension Plan and PSP Investments, has acquired Peel NRE’s 50 percent stake in Peel Cubico Renewables. Financial terms were not disclosed.

Peel Cubico Renewables is a joint venture between Cubico and Peel NRE, part of regeneration business Peel L&P. It was launched in April 2021 with a focus on the development of renewable-energy projects in the United Kingdom.

This transaction marks a significant stride in Cubico’s objective to become a prominent developer, owner and operator of U.K. renewable-energy assets and provides Cubico with a robust pipeline of development projects of 350 megawatts in capacity.

“This reaffirms our belief in the U.K. as an attractive renewable-energy market, where we see great potential,” said David Swindin, CEO of Cubico Sustainable Investments. “We look forward to playing our part in the country’s push

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