Investors - MAY 28, 2015

Santander, OTPP and PSP Investments launch renewable energy firm

by Zoë Wolff

Banco Santander, the Ontario Teachers’ Pension Plan and the Public Sector Pension Investment Board have announced the launch of Cubico Sustainable Investments. The London-based firm will manage and invest in renewable energy and water infrastructure assets globally.

The two Canadian pension funds and Santander will share equal ownership of the firm, which is committed to a long-term growth strategy, according to a statement released May 28. The firm has significant capital to invest and is set to become one of the largest renewable energy and water investors in the world.

Santander’s former Asset & Capital Structuring team will lead Cubico. A&CS team leader Marcos Sebares is now CEO of Cubico. The team consists of 30 professionals who specialize in managing and investing in infrastructure investments globally.

“Renewable and water infrastructure developments require decisive long-term investment and commitment. We are uniquely positioned to provide this through our strong ownership structure, experienced team and global footprint. We have already built a strong pipeline of attractive assets to add to the platform and look forward to working with our partners over the coming years to consolidate Cubico’s position as one of the world’s leading renewable energy and water infrastructure investors,” said Sebares in a statement.

The transfer of 19 Santander wind, solar and water infrastructure assets has given Cubcio a diversified portfolio valued at more than $2 billion. The assets are spread across seven countries and range from under development to in operation.

The firm is headquartered in London, and will have regional offices in Milan, São Paulo and Mexico.

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