Cubico acquired 121MW of wind and solar projects in Uruguay from Brookfield for an unspecified amount.

The renewable energy investor said he completed the acquisition of the 52 MW Carape I and 43 MW Carape II wind farms in Maldonado; and the 26MW Alto Cielo photovoltaic solar plant in Artigas.

The latest agreement increases Cubico’s renewable energy capacity in Uruguay to more than 320 MW, the manager said.

Javier Areitio, head of origination and development at Cubico, said: “This agreement aligns with one of the pillars of our global growth strategy: increasing and diversifying our installed capacity in each of our existing markets, rather than expanding our footprint. geographical.

“As we build our clean energy portfolio, we prioritize finding synergies and a 24/7 generation profile in each country where we operate.”

Javier Pérez del Castillo, country manager for Uruguay at Cubico, said: “This is another important milestone for Cubico, significantly strengthening our position as the largest private renewable energy owner in Uruguay and one of the largest in the world.

“Through this acquisition, we are very pleased to have diversified our asset base in Uruguay and expanded our local team, improving our technical and financial capabilities.”

Cubico, backed by Canadian pension funds Ontario Teachers’ Pension Plan and the Public Sector Pension Investment Board, has a global portfolio in 11 countries.