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Cubico Sustainable Investments has acquired ten UK solar projects with a total capacity of 65MW as part of a new deal with British Solar Renewables (BSR).
Cubico has closed financing of eight of the parks under a financing facility with National Australia Bank, with the remaining two parks expected to enter the facility shortly, taking the total debt to £60 million across the acquired portfolio.
BSR will remain actively involved in the new solar parks as operations and maintenance provider.
Cubico EMEA head David Swindin said: “This acquisition adds to our growing portfolio of renewable energy assets in the UK, which is now our second largest market globally. The transaction with BSR was completed swiftly and we now look forward to enjoying a close relationship with the company.”
BSR commercial director David Peill said he was “delighted” with the sale.
Cubico now has a portfolio of 29 assets including wind, solar and water infrastructure with a total gross capacity of 1900MW.
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