Cubico Sustainable Investments (Cubico), one of the world’s largest privately-owned renewable energy companies, has agreed to acquire a 13 MW operational solar PV project in Evora, Portugal.

The Cabrela solar project, which will be acquired from independent power producer Neoen, takes Cubico’s operational portfolio in Iberia to nearly 600 MW, with a further 250 MW in development.

Cubico was supported by Gómez-Acebo & Pombo (legal), Vector Renewables (technical) and EY (financial, tax and model audit).

José Canales, Country Head for Iberia at Cubico, said: “This transaction consolidates Cubico’s position in the Portuguese market and will allow us to capitalise on synergies with our existing portfolio in the country. It also reaffirms our place as one of the largest owners of regulated PV assets in Iberia.”