PSP, OTPP to jointly own Cubico Sustainable Investments
Public Sector Pension Investment Board (PSP Investments) and Ontario Teachers’ Pension Plan (OTPP) have agreed to acquire Banco Santander SA's interest in Cubico Sustainable Investments Ltd, a London-based renewable energy business. No financial terms were disclosed for the deal, which will see OTPP and PSP share joint ownership of the company on a 50:50 basis. Cubico, launched in May 2015 by OTPP and PSP in partnership with Santander, has recently increased its portfolio to include 22 wind, solar and water infrastructure assets in eight countries. Its 2016 acquisitions include ten U.K. solar projects and two Brazilian wind farm complexes.
22 July 2016•4 mins read
