DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure VI has executed a definitive agreement to acquire 100% of the equity interests of Kingfisher Wind (the “Project”), a 298 MW operating wind project located in Oklahoma, US. DIF will acquire the Project from an infrastructure fund managed by BlackRock. The final closing is expected to be completed in Q3 2021, following the required regulatory approvals and consents.
The Project is equipped with 149 Vestas V100 2.0 MW turbines, situated across approximately 19,000 acres of land. The turbine O&M is completed by Vestas, and the asset management & balance of plant, operation and maintenance work is performed by APEX Clean Energy. The Project has been operating since 2016 and benefits from contracted cash flows and selling electricity into the Southwest Power Pool.
The total production is about 1,100 GWh per year, which is the equivalent to the annual power consumption of around 100,000 households; thereby avoiding around 600,000 tonnes of CO2 emissions per year from alternate generation sources.
Gijs Voskuyl, Partner and Head of Infrastructure at DIF Capital Partners, said: “DIF is pleased to increase our operating onshore wind holdings. We also see interesting synergies with earlier investments such as our DIF Infrastructure IV investment in the neighbouring Canadian Hills project. Clean energy is a key focus for DIF, and we look forward to continuing to provide clean reliable power to the Project’s customers and support the North American clean energy transition. The investment underlines DIF’s strong position in and commitment to the renewable energy market globally.”
DIF was advised by Agentis Capital (financial), Nixon Peabody LLP (legal and tax), Leo Berwick (tax and accounting), Black & Veatch (technical), and Basho Energy & PA Consulting (commercial).
About DIF Capital Partners
DIF Capital Partners is a leading global independent fund manager, with €9.0 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:
- Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest vintage, target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
- DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.
DIF Capital Partners has a team of over 160 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. For further information please visit www.dif.eu
Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.
