Cubico: Leading the transition to clean energy
The investment: In 2015, we established Cubico Sustainable Investments with PSP Investments and Santander Bank. Today we jointly own Cubico alongside PSP.
The climate crisis is considered the defining issue of our generation. Investing in renewable energy is a critical part of our plan to help decarbonize the global economy. Yet renewable investments are typically made in small, decentralized power generation projects spread out over a large territory. The challenge for long-term investors is to achieve meaningful scale and earn the investment returns they need.
In 2015, we established Cubico Sustainable Investments, a renewable infrastructure company. The basis of Cubico was a number of wind and solar projects that had been financed by Santander Bank. We established a new stand-alone company to own the assets, and brought the team from Santander to continue to grow the portfolio. We set up a back office and technical team; and opened new offices in six countries with a head office in London.
Today, Cubico is involved in acquiring, developing constructing and operatingrenewable energy projects.
Since our initial investment, Cubico has grown from 19 assets in seven countries, to 121 assets in 12 countries including the Americas, Europe and Australia. We’re excited to support Cubico as it continues to expand globally – and make a meaningful difference for a better tomorrow.