Cubico Sustainable Investments, a global investor in renewable energy, has announced that it has agreed to acquire five solar projects totalling 580MW from Cypress Creek Renewables (“CCR”), located in South Carolina, North Carolina and Texas.

The announcement marks Cubico's entry into the U.S. market

Cubico previously entered various Latin American markets

"We now plan to continue consolidating our presence in the market supporting developers to achieve their clean energy ambitions in the country," said Ricardo Diaz, Head of Americas at Cubico

The first project in the portfolio to start construction is Palmetto, located near Orangeburg, South Carolina

The remaining four projects will all reach financial close throughout the first half of 2019 immediately prior to the start of construction. In addition to the tax equity and debt, Cubico will invest up to US$ 165 million of equity to construct all the projects in the portfolio with them all becoming operational by Q4 2020.