Banco Santander SA, Ontario Teachers' Pension Plan and the Public Sector Pension Investment Board will launch Cubico Sustainable Investments, a London-headquartered firm established to manage and invest in renewable energy and water infrastructure assets globally.
Owned equally by Santander and two of Canada's largest pension funds, Teachers' and PSP Investments, the firm has significant capital to invest and is committed to a long-term growth strategy. The firms intend to make Cubico one of the largest and best-in-class renewable energy and water investors in the world.
Following the transfer of 19 wind, solar and water infrastructure assets previously owned by Santander, Cubico has a balanced and diversified portfolio valued at more than $2 billion. The assets in operation, construction or under development have a total capacity of more than 1.4 GW and are located across seven countries: Brazil, Mexico, Uruguay, Italy, Portugal, Spain and the U.K.
Cubico is led by Santander's former team of 30 who focus on managing and investing in infrastructure investments globally.
Marcos Sebares, formerly asset and capital structuring team leader at Santander, becomes CEO of Cubico. In addition to its London headquarters, the firm will have regional offices in Milan, Sao Paulo and Mexico.