Canada-Backed Cubico Sustainable Investments Buys Greek Onshore Wind Portfolio

Posted on 06/03/2020

London-based Cubico Sustainable Investments, which is owned by Ontario Teachers Pension Plan and PSP Investments, acquired a 25MW onshore wind portfolio, also known as Eoliki Zaraka Rachi Gkioni Energy, in Greece from Cyprus-based Underfoc Holdings Ltd. The investor also secured a €24 million refinancing facility for the newly acquired portfolio. Cubico has refinanced the portfolio with Piraeus Bank. Founded in May 2015, Cubico Sustainable Investments has a focus on renewable investments.

Eoliki Zaraka Rachi Gkioni Energy owns three operational onshore wind farms in the Viotia region of Sterea Ellada.

In January 2020, Cubico Sustainable Investments agreed to acquire a 21MW operational onshore wind farm called K-Wind Kitheronas Energy in Greece from Intracom Holdings. The wind farm is located in the Viotia region of Sterea Ellada. Intracom Holdings is a Greece company engaged in IT services, construction projects, and electronic defence systems.

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