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Cubico cleared to acquire Spanish IPP Grupo T-Solar for EUR 1.5bn

0 SHENZHEN LITU NEW ENERGY TECHNOLOGY COMPANY LIMITED 2022-11-21

Cubico Sustainable Investments Ltd has been given the regulatory green light to acquire Spain-based independent power producer (IPP) Grupo T-Solar Global SA in a deal thats puts EUR 1.5 billion (USD 1.82bn) enterprise value on the targeted company. Notice of the approval was posted on the website of Spanish competition regulator CNMC this week. The renewables investor is now cleared to finalise its arrangement with Grupo T-Solar’s owner, private equity firm I Squared Capital, through which it is set to increase its installed solar capacity in Spain to 440 MW, as announced in December. Grupo T-Solar comes with 274 MW of operational capacity — 167 MW of solar photovoltaic (PV) and 100 MW of concentrated solar power (CSP) plants in Spain, and 7 MW of solar PV in Italy. Its solar project pipeline is 1.4-GW strong, Cubico then said.

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