Cubico Sustainable Investments has acquired a portfolio of 18 photovoltaic plants, located in three regions across Italy (Apulia, Lazio and Sicily) ranging from 1 to 43 MW and became operational from 2010 to 2013, totalling 105.6MW (see here the press release).
The seller is Silver Ridge Power Italia, the Italian subsidiary of Silver Ridge Power Corporation (formerly AES Solar), which is now a joint venture between Riverstone and SunEdison.
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 including Dexia, Unicredit, BnpParibas, Crédit Agricole, Société Générale, Dnb, Ing and Uni.
As a result of the acquisition Cubico’s portfolio in Italy now comprises 21 assets, with a total capacity of 205 MW, allocated between solar PV and wind technologies.
Cubico has beed advised by Gianni Origoni Grippo Cappelli law firm as for legal issues, while Silver Ridge Power has been supported by BonelliErede.
Founded in May 2015, Cubico Sustainable Investments today is a major player in the renewable energy sector. Cubico’s global portfolio in eight countries is worth in excess of 2 billion dollars, with a gross capacity of approximately 2.3 GW.
