LONDON, MADRID, TORONTO and MONTREAL, May 28,
2015 /PRNewswire/ --
Assets valued at
over US$2 billion - focus on
renewable energy and water infrastructure
28th May: media Q&A with
Cubico Sustainable Investments, CEO, Marcos
Sebares
Two conference
calls: 11:00am BST (GMT +1) and
16:00 BST (GMT +1)
See conference
call details below press release
Banco Santander, S.A. ("Santander"), Ontario Teachers' Pension
Plan ("Teachers") and the Public Sector Pension Investment Board
("PSP Investments") today announced the formal launch of Cubico
Sustainable Investments ("Cubico"), a London-headquartered firm established to
manage and invest in renewable energy and water infrastructure
assets globally.
Owned equally by Santander and two of Canada's largest pension funds, Teachers and
PSP Investments, the firm has significant capital to invest and is
committed to a long-term growth strategy designed to make it one of
the largest and best in class renewable energy and water investors
in the world.
Following the transfer of 19 wind, solar and water
infrastructure assets previously owned by Santander, Cubico has a
balanced and diversified portfolio valued at more than US$2 billion. The assets in operation,
construction or under development have a total capacity of more
than 1,400 megawatts and are located across seven countries:
Brazil, Mexico, Uruguay, Italy, Portugal, Spain, and the United Kingdom.
Cubico is led by Santander's former Asset & Capital
Structuring (A&CS) team of 30 professionals who specialise in
managing and investing in infrastructure investments globally.
A&CS team leader Marcos Sebares becomes Chief Executive Officer
of Cubico, which will manage the current portfolio and lead
investments in the new global renewable energy and water
infrastructure platform.
Cubico has a flexible investment mandate and through its strong
origination capability will focus on identifying assets that will
achieve significant scale and value over the lifetime of its
ownership. Cubico has the mandate to hold assets for the long
term.
Alongside capital and financial expertise, a local Cubico
specialist will take an important role in the management of each of
its assets, ensuring that resources, contacts, ideas and knowledge
of best practice are brought to all its investments.
Cubico will be headquartered in London, with regional offices in Milan, Sao
Paulo and Mexico DF. The firm's management team built a
strong proven track record at Santander with a reputation as one of
the leading global renewables developers, having invested more than
US$2 billion in renewable energy and
water projects. Cubico will build on the A&CS strategy of
developing a global platform of diversified infrastructure assets
that generate stable cash flows and superior returns.
Marcos Sebares, Chief Executive Officer, Cubico Sustainable
Investments, commented:
"Today represents the beginning of an exciting new chapter for
us. 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."
Andrew Claerhout, Senior
Vice-President, Infrastructure at Teachers', commented: "We are
pleased to have worked with our partners to create Cubico. We look
forward to supporting the strong management team and its efforts to
build a platform for global growth in the renewable energy and
water sector."
Bruno Guilmette, Senior
Vice-President, Infrastructure Investments at PSP Investments,
commented: "We are pleased to have completed this landmark
transaction alongside reputable partners such as Banco Santander
and Ontario Teachers' Pension Plan. This new joint venture will
allow us to continue to grow and develop our portfolio of private
energy assets while contributing to environmentally sustainable
energy production."
Juan Andres Yanes, Senior
Executive Vice President, Banco Santander S.A, commented: "This is
the culmination of almost two years of focused work that started in
2013 with the identification of the sale opportunity and the best
parties to join us in this innovative endeavour. We are pleased to
start this new joint venture with Teachers' and PSP Investments,
two of the best known pension funds in infrastructure investment.
We are confident that this venture represents a significant
milestone for Santander to increase its footprint in the renewable
and water infrastructure industry."
Notes to Editors:
Conference call details
Access number (UK) +44(0)330-336-6010
Guest Passcode: 455 076 3928
International
codes: https://mtginfo.pgi.com/globalcallmanagement.asp?bwebid=9820041&cid=da6ee6b9d7e65a11d778fcef4d4b&confid=da6ee6bcd7e85a16d77cfcee4d49&brandid=176
About Cubico Sustainable Investments
("Cubico")
Cubico Sustainable Investments is one of the world's most
innovative renewable energy and water investors. Launched in
May 2015, the firm is equally owned
by three shareholders, Ontario Teachers' Pension Plan and the
Public Sector Pension Investment Board, two of Canada's largest pension funds, and Banco
Santander. There are currently 19 assets, consisting of wind, solar
and water infrastructure assets, located across seven countries
with a total capacity of over 1400 megawatts. The firm is committed
to managing and developing a geographically diversified portfolio
of infrastructure projects, which will generate stable and fully
contracted cash flows to deliver sustainable and long term revenues
for its investors.
For more information visit our
website http://www.cubicoinvest.com.
About Teachers'
With C$154.5 billion in net assets
as of December 31, 2014, the Ontario
Teachers' Pension Plan is the largest single-profession pension
plan in Canada. An independent
organization, it invests the pension fund's assets and administers
the defined benefit pensions of 311,000 active and retired teachers
in Ontario. For more information,
visit http://www.otpp.com. Follow us on Twitter @OtppInfo.
About PSP Investments
The Public Sector Pension Investment Board ("PSP Investments")
is one of Canada's largest pension
investment managers with C$99.5
billion of net assets under management as of September 30, 2014. Its highly-skilled and
dedicated team of professionals manages a diversified global
portfolio including public equities, private equity, bonds and
other fixed-income securities, real estate, infrastructure and
renewable resources. PSP Investments is a Crown corporation
established to manage employer and employee net contributions since
April 1, 2000, to the pension funds
of the federal Public Service, the Canadian Forces and the Royal
Canadian Mounted Police, and since March 1,
2007, of the Reserve Force. PSP Investments' head office is
located in Ottawa, Ontario, and
its principal business office is in Montréal, Québec. For more
information, visit http://www.investpsp.ca.
About Santander
Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and
commercial bank, based in Spain,
with a presence in 10 main markets. Santander is the largest bank
in the euro zone by market capitalization. Founded in 1857,
Santander had EUR 1.42 trillion in
managed funds, 117 million customers, 12.951 branches - more than
any other international bank - and 185,405 employees at the close
2014. It is the largest financial group in Spain and Latin
America. It also has significant positions in the
United Kingdom, Portugal, Germany, Poland and the northeast United States. In 2014, Santander registered
EUR 5.816billion in attributable
profit, an increase of 39% from the same period of the previous
year.
For further information, please contact:
Cubico Sustainable Investment:
Seán Galvin / Emily Desmier /
Stephanie Blott, FTI Consulting, +44
20 3727 1000, Cubico@fticonsulting.com
PSP Investments:
Mark Boutet, Vice-President,
Communications and Government Relations,
+1-(514)925-5431, mboutet@investpsp.ca ;
Santander:
Comunicación Externa,
+34-91-289-52-11; comunicacion@gruposantander.com ;
Teachers':
Deborah Allan, Vice-President,
Communications, +1-(416)730-5347, deborah_allan@otpp.com