Cubico Expands its Mexican Renewable Energy Pipeline

Cubico Sustainable Investments, a global leader in renewable energy, has completed two strategic moves that significantly bolster its presence and development portfolio in Mexico. The acquisitions include the purchase of Renantis Mexico and a strategic partnership with Sowitec Group, advancing the renewable energy sector in the country.

With these transactions, Cubico's development pipeline in Mexico surpasses 1.6GW, highlighting its dedication to expanding its regional renewable energy platform. The acquisitions involve at least 12 solar and hybrid projects spread across seven states, each at different development stages. 

The newly acquired projects contribute over 1.6GW of capacity to Cubico's development portfolio, bringing the total size of its portfolio in Mexico to 2.2GW. Among these, three projects, Mezquite, Solem 1, and Solem 2 are already operational.

Cubico’s portfolio includes projects in regions like the Yucatan peninsula, where high levels of fossil fuel electricity generation, significant energy demand growth, and supply reliability challenges present unique opportunities for clean energy development. The company’s strategic acquisitions underscore its long-term commitment to driving the renewable energy transition in Mexico, working collaboratively with both the public and private sectors.

"We are delighted to announce the completion of these two transactions, which reinforce our commitment to delivering projects that will contribute to both reducing greenhouse gas emissions and driving Mexico's future economic growth," says Osvaldo Rance, Country Head for Mexico, Cubico Sustainable Investments. He adds that these projects will play a crucial role in meeting the region's growing demand for clean energy.

Javier Areitio, Head of Origination & Development, Cubico Sustainable Investments, highlights that these transactions align with the company's global strategy. By leveraging local knowledge and in-house expertise, Cubico has expanded its development portfolio to about 5GW of greenfield projects across the United States, the United Kingdom, Spain, Italy, Australia, and Mexico.