Santander unveils green investment firm

Spanish bank Santander has established a $2bn renewables investment firm in partnership with two of Canada's largest pension funds

The newly-formed Cubico Sustainable Investments has “significant capital to invest” in water and renewable energy infrastructure, and a “mandate to hold assets for the long term”.

Headquartered in London, Cubico also has offices in Milan, Sao Paulo and Mexico.

The company already manages a portfolio of 19 wind, solar and water assets, transferred from its three joint owners – Santander, Ontario Teachers’ Pension Plan, and the Public Sector Pension Investment Board.

These projects – located in seven countries around the world, including the UK – are worth $2bn and boast a total capacity of 1,400MW.

In the pipeline

The CEO of the newly-formed company Marcos Sebares said: “Renewable and water infrastructure developments require decisive long-term investment and commitment.

“We are uniquely positioned to provide this through our strong ownership structure, experienced team and global footprint.

“We have already built a strong pipeline of attractive assets to add to the platform and look forward to working with our partners over the coming years to consolidate Cubico’s position as one of the world’s leading renewable energy and water infrastructure investors.”

Global surge

Global clean energy investment in 2014 totalled $310bn, the highest amount since 2011 and a year-on-year growth of 16%.

And the UK itself is in the midst of a green investment revolution, according to the head of sustainable finance at the Green Investment Bank. In a recent interview, Gavin Templeton told edie that institutional investors at home and abroad are turning their attention to UK green infrastructure projects for the first time.

However it’s not just the institutional money that is investing heavily in renewables. Members of the public are getting involved through crowdfunding and community schemes, both of which have seen an uptick in 2015.

Brad Allen

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