Cubico buys into Celsia transmission lines platform

28 December 2019 - 12:00 am UTC

Cubico Sustainable Investments has agreed to acquire a 49% stake in Celsia’s newly announced transmission lines investment platform Caoba Inversiones, according to a 27 December Celsia release.

Celsia will drop down up to COP 1.1trn (USD 333.19m) of transmission assets into the platform, according to the release. These assets include seven transmission projects that Celsia won in the National Mining and Energy Ministry’s (UPME’s) Plan5Caribe program, the USD 70.5m, 160 km Toluviejo transmission lines it won in November 2018 and some assets that it received when it acquired distribution company Enertolima in March 2019.

Cubico and Celsia signed an agreement to co-develop an up to 400 MW solar platform with Celsia on 9 October.

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