Cubico Sustainable Investments (Cubico) has acquired an onshore wind development business in France from InControl and Biorganotec.
The development portfolio, which comprises around 200 MW and more than 10 projects, is spread across France.
The current onshore wind team from the companies will be incorporated into Cubico to allow seamless portfolio growth. Cubico will also inherit a Toulouse office, and will establish a Bordeaux presence.
“We are delighted to be consolidating our position in the French market with this acquisition, as well as helping to fulfill our strategic plan to diversify our investments into development alongside our traditional business model of acquiring projects at ready to build or when operational. We believe this acquisition provides us with the platform to grow our presence in France and we are actively seeking new investment opportunities.”David Swindin, head of EMEA at Cubico.
“This acquisition is a great example of Cubico’s flexible investment mandate and we look forward to developing this portfolio, as well as making further acquisitions to boost our presence in France. We are particularly pleased to have also acquired a great team of professionals who will strengthen and broaden our existing capabilities, contributing to our future growth plans.”Stephen Packwood, head of France at Cubico.
“We are proud of having assisted with Cubico’s entrance to the French onshore wind market and will now continue focusing on our presence in the European renewable energy industry.”Frank Coenen, director of InControl.