Launched in collaboration with Ontario Teachers’ Pension Plan (OTPP) and the Public Sector Pension Investment Board (PSP Investments), Cubico Sustainable Investments will initially manage more than 1,400MW of 19 wind, solar and water infrastructure assets, which are in operation, under construction or under development.
Transferred by Santander to the new UK-based renewable energy investment firm, the $2bn worth assets are located in Brazil, Mexico, Uruguay, Italy, Portugal, Spain, and the UK.
Cubico holds flexible investment mandate to hold assets for a long duration. The firm intends to identify assets that will achieve significant scale over the ownership’s lifetime.
Equally owned by the three firms, the new company will be led by Santander’s former Asset & Capital Structuring team.
PSP Investments infrastructure investments senior vice-president Bruno Guilmette said: "This new joint venture will allow us to continue to grow and develop our portfolio of private energy assets while contributing to environmentally sustainable energy production."
