Cube Green Energy bolsters its European presence through a number of acquisitions and enters the France repower market
CGE acquires diversified and strategic portfolio
BERLIN, Dec. 20, 2023 (GLOBE NEWSWIRE) — Cube Green Energy, an independent power producer and developer focussed on the repowering of onshore wind farms and deployment of PV and battery storage solutions in Continental Europe, has announced the acquisition of a diversified and strategic portfolio totalling c.125 megawatts of operating onshore wind and PV solar capacity across 12 projects in Europe.
The latest set of acquisitions by Cube Green Energy during 2023 are predominantly in its core markets of Germany and France, increasing the energy producer’s installed capacity to c.150 megawatts of operating assets. This portfolio has repowering potential of over 300 megawatts and development work is well underway as Cube Green Energy looks to replace the older and less efficient wind turbines with the latest highly efficient power generation technology. Once repowered, the project sites will provide clean energy to over 200,000 households in Germany and France.
At the repowering sites, Cube Green Energy will also be implementing the co-location of PV solar and utility-scale battery storage to maximise the energy fed into the local grid to support neighbouring communities and businesses with 24/7 renewable power.
Complementing its core specialisation in repowering onshore wind farms, Cube Green Energy has also significantly expanded its greenfield development pipeline and is currently actively pursuing over 1,500 megawatts of potential onshore wind and PV solar farms in various stage of development across continental Europe, including Germany, France, Italy, Spain and Poland.
2023 has also seen Cube Green Energy expand its team, including hiring in France and Spain, and opening offices in Hamburg and Madrid to complement its existing offices in Berlin and London.
Raghuveer Kurada, Chief Executive Officer at Cube Green Energy, said: “2023 has been a memorable year for Cube Green Energy as we expanded our renewable asset portfolio in Germany and France and progressed our repowering strategy. The rapid deployment of high efficiency renewable energy assets across Continental Europe remains a key priority of government policy and utility-scale battery storage will be critical to ensure grid stability and the provision of 24/7 renewable power. Cube Green Energy is proud to play a role in contributing towards this critical mission.”
About Cube Green Energy
Cube Green Energy is an independent power producer and developer focussed on the repowering of onshore wind farms and deployment of PV and battery storage solutions in Continental Europe.
A portfolio company of I Squared Capital, Cube Green Energy has a mission to accelerate Europe’s shift to a zero-carbon economy by upgrading and repowering existing onshore wind farms, developing new renewable energy farms and deploying state-of-the-art battery storage solutions to enable a 24/7 renewable energy future.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dc4dfe53-a5e6-49c9-b80d-f6b823463915
CONTACT: Contact: Hussain Shalchi Chief Operating Officer & General Counsel 0 (44) 7817 128 216 Hussain.Shalchi@cubegreenenergy.com
