Cubico reaches 1GW renewable project portfolio in Italy

Privately-owned renewable energy firm Cubico Sustainable Investments has reached over 1GW of renewable energy projects under development in Italy.

Cubico’s portfolio in Italy includes solar, wind and battery energy storage technologies. The company has an operational portfolio of almost 50 projects with a total capacity exceeding 250MW, and 28 projects in the development pipeline.

The first development projects are expected to reach ready-to-build status in early 2025.

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Alessandro Asperti, Cubico’s country head for Italy, commented: “We’re incredibly proud of achieving this milestone in a relatively short space of time.

“We are committed to expanding our pipeline and team even further to achieve the ambitious development targets we have set ourselves, delivering clean energy projects that support Italy’s clean energy goals and bring significant benefits to local communities”.

Cubico entered the Italian market in 2021. In February this year, the company announced a joint venture with Italian battery storage developer and consultancy, Storaltil. The partners aim to develop over 1GW of Battery Energy Storage System (BESS) projects in an effort to tackle grid congestion challenges prevalent in various regions across the country.

Cubico is backed by the resources of Ontario Teachers’ Pension Plan, Canada’s largest single-profession pension plan, and PSP Investments, one of Canada’s largest pension investment managers.

The company has a global portfolio in nine countries with 4GW of operational and under-construction assets.

Originally published on powerengineeringint.com