Dieterschutte

News

DIF acquires 275 MW solar project in Australia

door Tim Kesler op 10 apr 2017, 16:48 DIF acquires 275 MW solar project in Australia

Sydney, 10 April 2017 - DIF Infrastructure IV is pleased to announce the acquisition of 100% of the 275 MW (dc) Bungala Solar PV project from Reach Solar Energy, via an equal joint venture with Enel Green Power.

Developed by Reach Solar Energy, the Bungala Solar Project will be one of the largest solar PV plants in Australia. The utility-scale solar power project is located near Port Augusta, South Australia and covers approximately 700 hectares of land. The project will produce enough electricity to power approximately 82,000 homes, avoiding the emission of about 520,000 tonnes of CO2.

Origin Energy, a major Australian utility will purchase all electricity and renewable certificates from the project. The project is split into two equal solar farms of 137.5 MW, located on two adjacent plots of land. Construction works at Bungala Solar One are expected to begin by mid-2017, followed by Bungala Solar Two, whose construction will start by the end of this year. The overall 275 MW project will be fully operational by the third quarter of 2018.

Marko Kremer, DIF’s Head of Australasia added: “DIF is delighted to add Bungala solar farm to its existing investment portfolio. It represents DIF’s second solar PV project in Australia, following the acquisition of Royalla in 2016. We are excited to be part of the Australian renewable energy landscape which supports the nation’s commitment to a greener economy as well as creating significant job opportunities in the Port Augusta region. This investment represents an attractive, large scale solar PV energy investment, underpinned by stable, long term contracted cash flows.”

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 and renewable energy assets 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

Back to overview

Subscribe to our press releases

Disclaimer

DIF Management B.V., a private limited liability company incorporated under Dutch law, owns and operates this website. DIF Management B.V. is licensed by the Authority for the Financial Markets (AFM) in the Netherlands and Registered at the Dutch Chamber of Commerce under 34312941. 

The Terms and Conditions of Use (“Terms and Conditions”) apply to the use of this website. These Terms and Conditions can be found on the website. 

Nothing on or accessible through this website constitutes an offer to sell or a solicitation of an offer to buy any security that may be referred to on or through this website. The information placed on the website is for information purposes only and is general of nature. Its contents should not form the basis of any decisions. Moreover, the information may be subject to change without notice.

Please note that the value of investments and any income derived from them may fluctuate and investors may not get back the amount they invested. Any content referring to past performance should be considered as past performance and is no indication of future performance.

The information provided on this website is not intended for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be contrary to law or regulation or which would subject DIF Management B.V. or any of DIF Management B.V.’s products or services to any authorisation, registration, licensing or notification requirement within any jurisdiction in which it is not authorised.