Cubico
Cubico, established in 2015 and headquartered in London, operates in 10 countries and specializes in renewable energy technologies such as onshore wind and solar. Jointly owned by Ontario Teachers’ Pension Plan and PSP Investments, the company is committed to environmental and social responsibility, with significant projects like the Wambo Wind Farm in Queensland.
Cubico Company Overview
Established in 2015, Cubico is a renewable energy company jointly owned by Ontario Teachers’ Pension Plan and PSP Investments. With a strong global footprint, Cubico operates in 10 countries, including the UK, Spain, Italy, Greece, Brazil, Mexico, Uruguay, USA, Colombia, and Australia. Headquartered in London, the company also maintains regional offices in Bogotá, São Paulo, Mexico City, Montevideo, Austin, New York, Madrid, Milan, Athens, Sydney, Melbourne, and Brisbane.
Renewable Energy Portfolio
Cubico's portfolio includes diverse renewable energy projects such as onshore wind, solar photovoltaic, solar thermal, and transmission and distribution line technologies. Notably, they have over 2 GW of projects currently in development in Australia. Their projects aim to create a safer and healthier environment for local communities while making a positive global impact.
Wambo Wind Farm Project
The Wambo Wind Farm in Queensland is one of Cubico’s notable projects. This development is a 50:50 joint venture with Stanwell Corporation and will expand to over 500 MW with 41 additional turbines, increasing capacity by 254.2 MW by 2026. The project is expected to create up to 200 jobs during construction and several full-time roles once operational, contributing significantly to local economic development.
Corporate Finance and Investments
Cubico successfully extended a USD 700 million corporate facility, bringing the total credit envelope to USD 1.1 billion, with maturity extended to March 2026. Participating lenders in this facility include BNP Paribas, CIBC, Crédit Agricole CIB, Export Development Canada, HSBC, ING, National Australia Bank, Scotiabank, and Société Générale. The robust backing from its shareholders, Ontario Teachers’ Pension Plan, and PSP Investments provides Cubico with significant capacity to access capital for renewable energy investments.
Environmental, Social, and Governance (ESG) Commitment
Cubico is committed to upholding high standards of environmental, social, and governance (ESG) performance. The company’s Environmental and Social Policy ensures compliance with the Equator Principles. Their ESG report includes global performance data and highlights key achievements and case studies. Additionally, Cubico’s internal diversity network addresses matters affecting minority or underrepresented groups and shares ideas to bolster diversity and inclusion initiatives. The company’s corporate social responsibility strategy focuses on promoting social good beyond economic interests and legal requirements.