The power plants were acquired from Antin Infrastructure Partners and Deutsche Asset Management’s infrastructure investment business, and Cobra Sistemas y Redes, a Spanish construction company.
Use of parabolic trough thermosolar technology with 7.5 hours of thermal salt storage combined with an oversized solar field enable the plants to produce power at night, thereby contributing to the security of Spain’s electricity system.
After commencing operations in 2008 and 2009 respectively, the Andasol 1 and Andasol 2 power plants supplied over two terawatt hours to the grid, that satisfied the needs of 600000 Spanish households per year.
The clean energy generated has slashed carbon dioxide emission by 1350000 tonnes, which is equivalent to emissions from 280000 cars annually.
In 2016, the Andasol plants produced over 2% of the total solar generation in Spain.
The plants are operated by over 120 employees and after the acquisition, 13 staff of Andasol will be integrated with the organization of Cubico.
Cubico EMEA head David Swindin said: “This is an important acquisition for Cubico and adds to our growing portfolio of renewable energy assets, improving the balance of our portfolio and increasing the proportion of energy we produce from solar sources.”
Founded in May 2015 and headquartered in London, Cubico Sustainable Investments is a major player in the renewable energy sector, with a global installed gross capacity of approximately 2.5GW.
The company has a presence in different geographic locations, including the UK, Ireland, Italy, Spain, Portugal, Brazil, Mexico, and Uruguay.
