Cubico Sustainable Investments has taken full control of its Peel Cubico Renewables joint venture by buying the 50% stake is did not own from Peel NRE.
Peel Cubico Renewables has developed a 350MW pipeline of utility-scale wind and solar projects in England and Scotland, as well as 1.7GW of early-stage development projects. Cubico said the deal would enable it to accelerate the growth of its UK development arm.
David Swindin, chief executive of Cubico Sustainable Investments, said: “We believe that by taking full control of the JV and bringing the team in house, we will strengthen our global development business and enable us to carry on growing our asset base in the UK. This reaffirms our belief in the UK as an attractive renewable energy market where we see great potential. We look forward to playing our part in the country’s push for net zero.”