Cubico Sustainable Investments has partnered with natural resources and energy business Peel NRE to grow coastal wind and solar photovoltaic (PV) projects in the UK. The partnership is all set to benefit the UK economy.
A Joint Venture Has Been Formed Between Cubico and Peel NRE
The partnership will attempt to convey more than 500MW of coastal renewable energy projects throughout the next five to ten years. The two organizations have made a joint venture (JV), Peel Cubico Renewables, which will start, create and work the undertakings. All power produced by the wind and solar activities will either stream to the matrix or straightforwardly to end-clients. The move is relied upon to additional help the UK’s decarbonization program, with the government meaning to decrease the country’s carbon emissions by 78% by 2035.
Cubico Northern Europe head Matt Boss said: “As an established owner and operator of wind and solar PV projects across the UK, Cubico is eager to partner with Peel NRE to build up the next generation of renewable activities and furnish more communities and businesses with the advantages of clean power.” Strip NRE Energy advancement chief Rob Tate said: “Both Peel NRE and Cubico get qualities numerous territories to this partnership and by cooperating, we can increase and build the speed at which we can give the country more renewable energy generation to help public and provincial net zero carbon focuses, just as conveying the potential for huge development for the two businesses.”
Cubico Sustainable Investments is a worldwide renewable energy investor. Until this point in time, the company has introduced more than 4GW of energy capacity across 12 nations in Europe, the Americas and Oceania. A month ago, it obtained Grupo T-Solar, a 274MW solar power generation company, from private equity firm I Squared Capital.