Renewable energy investment company Cubico Sustainable Investments has acquired a portfolio of 18 Italian PV plants with a total capacity of 105.6 MW.
The company acquired the plants from Silver Ridge Power Italia a Joint Venture between Riverstone and SunEdison. The plants are located in three regions across Italy – Apulia, Lazio and Sicily. They range from 1 to 43 MW and became operational from 2010 to 2013. The portfolio is one of the largest PV portfolios in Italy.
The plants are owned by 9 different special purpose vehicles and most are already financed through project financing structures provided by 4 pools of banks. Cubico’s portfolio in Italy now comprises 21 assets, with a total capacity of 205 MW, allocated between solar PV and wind technologies.
“We have a long history in Italy and this acquisition gives Cubico the opportunity to become one of the largest owners of PV in the country as well as our current wind portfolio” said David Swindin, Head of EMEA at Cubico. “We are delighted to have worked with Riverstone on the acquisition and look forward to further expanding our portfolio in the country in the future.”