Cubico wins award for outstanding growth in the USA

Cubico Sustainable Investments has been recognised by BritishAmerican Business for its successful expansion into and growth in the US market at the 2020 Transatlantic Growth Awards.

The company was one of five winners honoured in the ‘UK Launch or Expansion in the US’ category in an innovative virtual awards announcement on 6 April.

Cubico entered the US market in January 2019, when it agreed to acquire a 580 megawatt (MW) solar PV portfolio of projects across North Carolina, South Carolina and Texas, from Cypress Creek Renewables.

The company further strengthened its US presence in early 2020 by acquiring and achieving financial close for the 102 MW Midlands solar PV project in Calhoun County, becoming South Carolina’s biggest generator of renewable energy.

Crooked RunThe 105 MW Crooked Run solar PV project in North Carolina. 

Cubico currently owns nearly 700 MW of renewable energy projects in the US and more than 3.3 gigawatts worldwide.

Ricardo Diaz, Head of Americas at Cubico, said: “It has been an impressive growth journey so far by building an outstanding multidisciplinary team from scratch to be able to execute swiftly and flawlessly, which is hugely appreciated by our counterparties.

“We now plan to use our US platform to continue growing and become one of the leaders in the country’s renewable energy sector, creating remarkable value for our shareholders.”

Steve Riley, Chief Executive Officer at Cubico, added: “We are very excited to be recognised by BritishAmerican Business for such impressive growth in the US since we entered the market just over a year ago.

“It is testament to the power of having an agile and highly skilled local team in place to build important relationships and access new investment opportunities.”

The live Transatlantic Growth Awards ceremony, which was postponed due to the global coronavirus outbreak, is set to be rescheduled.

Watch the virtual announcement.