Cubico Sustainable Investments (Cubico), a global leader in renewable energy investment, has acquired a portfolio of 18 PV plants, totalling 105.6 MW, from Silver Ridge Power Italia (SRPI), a Joint Venture between Riverstone and SunEdison.

Located in three regions across Italy (Apulia, Lazio and Sicily) the PV plants range from 1 to 43 MW and became operational from 2010 to 2013. The portfolio is one of the largest PV portfolios in Italy.

The plants are owned by 9 different special purpose vehicles and most are already financed through project financing structures provided by 4 pools of banks.

As a result of the acquisition Cubico’s portfolio in Italy now comprises 21 assets, with a total capacity of 205 MW, allocated between solar PV and wind technologies.

David Swindin, Head of EMEA at Cubico, said: “We have a long history in Italy and this acquisition gives Cubico the opportunity to become one of the largest owners of PV in the country as well as our current wind portfolio. We are delighted to have worked with Riverstone on the acquisition and look forward to further expanding our portfolio in the country in the future.”