Cubico Sustainable Investments has recently completed two transactions in Mexico to strengthen its presence and development portfolio in the country. The first transaction involved acquiring Renantis Mexico, while the second transaction established a strategic partnership with Sowitec Group. These deals are significant milestones for Cubico as it surpasses a capacity of 1.6 GW in its Mexican ventures, demonstrating its commitment to advancing renewable energy initiatives in the country.
The acquisitions include a diverse range of at least 12 solar and hybrid projects in different stages of development across seven states. With these additions, Cubico’s development portfolio in Mexico now reaches an impressive 2.2 GW, in addition to its three operational projects: Mezquite and Solem 1 and 2.
Notably, some of these projects are located in regions like the Yucatan peninsula, where there is a high reliance on fossil fuel electricity generation, increasing energy demand driven by nearshoring activities, and supply reliability issues. These factors present unique opportunities for clean energy ventures.
Osvaldo Rance, the Country Head for Mexico at Cubico Sustainable Investments, expressed enthusiasm about the completion of these transactions. He emphasized the potential of these projects to reduce greenhouse gas emissions and contribute to Mexico’s economic growth. Rance also highlighted the essential role these projects will play in meeting the rising demand for clean energy in the region.
Javier Areitio, the Head of Origination & Development at Cubico Sustainable Investments, echoed Rance’s sentiments and emphasized the strategic alignment of these transactions with the company’s global expansion strategy. With a total development portfolio nearing 5 GW across various markets including the US, UK, Spain, Italy, Australia, and Mexico, Cubico solidifies its position as a leading facilitator of the global clean energy transition.
This development showcases Cubico Sustainable Investments’ commitment to collaborating with both the public and private sectors and investing in sustainable energy projects that bring economic, environmental, and social benefits to the communities they serve.
