In a significant development, Cubico Sustainable Investments has finalized two transactions aimed at bolstering its presence and development portfolio in Mexico. The acquisitions, which include the procurement of Renantis Mexico and a strategic partnership with Sowitec Group, mark a pivotal moment for the company as it surpasses a 1.6 GW capacity milestone in its Mexican ventures. This move underscores Cubico’s steadfast dedication to advancing renewable energy initiatives in the country.
The acquisitions encompass a diverse array of at least 12 solar and hybrid projects spread across 7 states, each at different stages of development. With these additions, Cubico’s development portfolio in Mexico now stands at an impressive 2.2 GW, in addition to its three operational projects: Mezquite and Solem 1 and 2.
Of particular note are the projects located in regions like the Yucatan peninsula, where high levels of fossil fuel electricity generation, burgeoning energy demand driven by nearshoring activities, and supply reliability issues present unique opportunities for clean energy ventures.
Osvaldo Rance, Country Head for Mexico at Cubico Sustainable Investments, expressed enthusiasm regarding the completion of these transactions, emphasizing their potential to mitigate greenhouse gas emissions and fuel Mexico’s economic growth trajectory. He highlighted the crucial role these projects will play in meeting the escalating demand for clean energy in the region.
Javier Areitio, Head of Origination & Development at Cubico Sustainable Investments, echoed Rance’s sentiments, emphasizing the strategic alignment of these transactions with the company’s global expansion strategy. With a total development portfolio now nearing 5 GW across various markets including the US, UK, Spain, Italy, Australia, and Mexico, Cubico solidifies its position as a prominent facilitator of the global clean energy transition.
This latest development underscores Cubico Sustainable Investments’ commitment to collaborating with both public and private sectors and investing in sustainable energy projects that promise economic, environmental, and social benefits for the communities they serve.
