Cubico Sustainable Investments (Cubico) has announced the sale of a substantial minority stake in its UK operational wind and solar portfolio to GLIL Infrastructure LLP (GLIL), the £1.8 billion infrastructure fund backed by Northern LGPS and Local Pensions Partnership.
The transaction sees GLIL acquire a 49% equity stake in the portfolio, which has been operational for more than three years and comprises over 250 MW of wind and solar projects at 18 sites across the UK.
Cubico, which is backed by Ontario Teachers’ Pension Plan and PSP Investments, will provide long-term management services for the day-to-day operation of the assets.
Cubico was advised by Clifford Chance and Brodies (legal), Natural Power (technical) and KPMG (financial). GLIL was advised by CMS (legal), Everoze (technical) and EY (corporate/financial).
Read the article online at: https://www.energyglobal.com/solar/12122019/cubico-sustainable-investments-sells-minority-stake-to-glil-infrastructure/