30 May 2017  |  Sydney

DIF acquires 125 MW solar project in Australia

DIF Infrastructure IV is pleased to announce the acquisition of 100% of the 125 MW Clare Solar PV project from Fotowatio Renewable Ventures (FRV), via a 50 – 50 joint venture with Lighthouse Infrastructure.

Developed by FRV, the Clare Solar Farm is located around 35 km south-west of Ayr in Northern Queensland. The 125MW (DC) photovoltaic solar farm is currently under construction and is scheduled to commence operations in late 2017. The project will create up to 200 jobs during construction and when completed will generate enough electricity to power approximately 42,000 Queensland homes, abating nearly 200,000 tonnes of CO2e emissions annually.

Origin Energy, a major Australian energy company, has entered into a long-term contract to purchase 100% of the electricity output and large-scale renewable energy certificates (LGCs) generated by the project.

Project finance has been provided to the project by NAB and SMBC.

RBC Capital Markets and Société Générale were financial advisers to Lighthouse and DIF in relation to the acquisition and King Wood Mallesons acted as legal adviser.

Marko Kremer, DIF’s Head of Australasia added: “This acquisition represents DIF’s third large scale solar PV project in Australia, and we are delighted to further extend our relationship with FRV following the acquisition of the Royalla Solar Farm in 2016”.

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €3.7 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Christopher Mansfield, Partner, Head of Renewable Energy
Email: c.mansfield@dif.eu

Allard Ruijs, Partner, Head of Investor Relations & Business Development
Email: a.ruijs@dif.eu

Solar panels
22 May 2017  |  London

DIF completes the acquisition of Affinity Water

DIF Infrastructure IV is pleased to announce that its consortium, following the announcement made on 2 May 2017, completed the 100% acquisition of the Affinity Water Group on 19 May 2017.

DIF’s share in the consortium is 26.9%, which in addition comprises of Allianz Capital Partners on behalf of Allianz Group (36.6%) and HICL Infrastructure Company Limited (the listed infrastructure investment company advised by InfraRed Capital Partners Limited) (36.6%).

Affinity Water is the United Kingdom’s largest water only supply company by revenue and population served. It is licenced under the Water Industry Act 1991 and regulated by Ofwat, ensuring long term stable income streams. Affinity Water owns and manages the water assets and network in an area of approximately 4,515 km² in the southeast of England, split over three regions, comprising eight separate water resource zones. The company is the sole supplier of drinking water in these areas. Affinity Water supplies, on average, 900 million litres of water a day to over 3.6 million people, serving 1.5 million homes and businesses, together with operating 98 water treatment works.

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €3.7 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Paul Nash, Partner
Email: p.nash@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu

2 May 2017  |  Schiphol

Allianz, EDF Invest and DIF to acquire 5% in Autostrade per l’Italia

The Board of Directors of Atlantia, the listed global operator of motorway and airport infrastructure, has accepted a binding offer by Allianz, EDF Invest and DIF to acquire a 5 percent stake in Autostrade per l’Italia, the largest Italian toll road network. The transaction is subject to signing of final contracts over the next days and fulfilment of the conditions precedent therein.

Autostrade per l’Italia is the largest toll motorway concession asset in Europe representing more than 50 percent of Italy’s toll motorway network and 61 percent of kilometers travelled. Autostrade per l’Italia Group’s network of around 3,000 km stretches across 16 Italian regions comprising 21 toll motorways, covering essential transport links mainly in the Northern part of Italy around the major economic urban areas as well as the two principal north-south routes, the A1 Milan-Naples and the A14 Bologna-Taranto.

The consortium is comprised of long-term infrastructure investors Allianz Capital Partners on behalf of the Allianz Group (74%), EDF Invest (20%) and DIF Infrastructure IV (6%) and it will also have a call option on a further 2.5% interest in Autostrade per l’Italia.

“”By investing in a prime core infrastructure in the European toll road sector we will further diversify our infrastructure portfolio across sectors and regions””, said Christian Fingerle, Chief Investment Officer, at Allianz Capital Partners. “We are very pleased to set up a new partnership amongst Allianz and Atlantia as leading international infrastructure operator and to work with them and other investors on the success of this company.””

EDF Invest’s Managing Director, Guillaume d’Engremont said: “Autostrade per l’Italia stands out by the quality of its installations as well as its management. Besides, the network has potential for expansion through projects which are essential for the country. Our stake in Autostrade per l’Italia will ideally complement our core infrastructure portfolio. We are very pleased to further strengthen our relationship with Atlantia, following our joint investment in Aéroports de la Côte d’Azur last year.”

Wim Blaasse, Managing Partner of DIF, said: ”DIF is very pleased to establish this long term relationship with Atlantia and to invest in this high quality and diversified operating toll road network, which is a very good complement to DIF’s infrastructure portfolio”.

The closing of the transaction is expected to occur by the end of July.

For further information please contact:

Allianz Capital Partners
Stefanie Rupp-Menedetter
Tel: +49.89.3800-2743

EDF Invest
Mail: service-de-presse@edf.fr
Tel: +33 1 40 42 46 37

DIF
Allard Ruijs
Mail: a.ruijs@dif.eu

About DIF

DIF is an independent and specialist fund management company, managing funds of approximately €3.7 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

www.dif.eu

About Allianz Capital Partners

Allianz Capital Partners is the Allianz Group’s in-house investment manager for alternative equity investments. With offices in Munich, London, New York and Singapore Allianz Capital Partners manages approximately EUR 18 billion of alternative assets. The investment focus is on infrastructure, renewables as well as private equity funds. ACP’s investment strategy is targeted to generate attractive, long-term and stable returns while diversifying the overall investment portfolio for the Allianz Group insurance companies.

Allianz represents one of the world’s strongest financial communities, offering a broad range of insurance and asset management services. In 2016, Allianz employed around 140,000 staff in some 70 countries and achieved total revenues of 122.4 billion euros and an operating profit of 10.8 billion euros. Allianz Group managed an investment portfolio of around 653 billion euros. Additionally our asset managers Allianz GI and PIMCO managed 1.3 trillion euros of third party money. Allianz is active in a wide variety of sectors including real estate, infrastructure, renewable energy and equity and debt. Allianz’s long-term value strategies maximize risk-adjusted returns.

www.allianzcapitalpartners.com

About EDF Invest

EDF Invest is the unlisted investment arm of EDF’s Dedicated Assets, the asset portfolio which covers its long-term nuclear decommissioning commitments in France. EDF Invest manages a portfolio of over €4bn equity investments through three asset classes: infrastructure, real estate and private equity.

The existing infrastructure portfolio includes stakes in RTE (the French electricity transmission company), Géosel (an oil storage company based in Manosque), Thyssengas (the third largest gas TSO in Germany), Aéroports de la Côte d’Azur (the second largest French airport operator, in joint control with Atlantia), TIGF (a gas transport and storage company operating in the South-West of France), Madrileña Red de Gas (the operator of the main gas distribution network in the region of Madrid) and Porterbrook (one of the three main rolling stock owning companies in the UK).

www.edfinvest.com

2 May 2017  |  London

DIF together with its consortium partners acquires Affinity Water

DIF Infrastructure IV together with its consortium partners HICL Infrastructure Company Limited (advised by Infrared Capital Partners Limited) and Allianz Capital Partners on behalf of Allianz Group has signed an agreement to acquire 100% of the equity interest in Affinity Water Acquisitions (Investments) Limited  (“Affinity Water”) from funds managed by Morgan Stanley and InfraCapital. DIF initiated the process and was subsequently joined by its consortium partners. The transaction is expected to complete in May 2017.

Affinity Water is the United Kingdom’s largest water only supply company by revenue and population served. It is licenced under the Water Industry Act 1991 and regulated by Ofwat. Affinity Water owns and manages the water assets and network in an area of approximately 4,515 km², split over three regions, comprising eight separate water resource zones, in the southeast of England. The company is the sole supplier of drinking water in these areas. Affinity Water supplies, on average, 900 million litres of water a day to over 3.6 million people, serving 1.5 million homes and businesses, together with operating 98 water treatment works.

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €3.7 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Paul Nash, Partner
Email: p.nash@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu