9 June 2021  |  Toronto

DIF Capital Partners invests in 298 MW Kingfisher Wind project in the US

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.

3 June 2021  |  Schiphol

DIF Capital Partners commits to Net Zero emissions today

DIF Capital Partners (“DIF”) is pleased to announce its commitment to Net Zero. As a globally operating private markets fund manager, DIF supports the goal of Net Zero greenhouse gas (“GHG”) emissions by 2050, in line with global efforts as a result of the Paris Agreement to have net zero emissions by 2050, or sooner. Since 2019, DIF has been measuring its own GHG emissions, taking steps to reduce its per capita emissions and offsetting the remainder. DIF is committed to continue doing this.

In addition, DIF commits to invest in line with the Paris Agreement targeting to achieve Net Zero emissions by 2050, or sooner, by taking the following steps:

  • Continue working with DIF’s portfolio companies to measure GHG emissions and identifying pathways to reduce emissions with the Paris aligned goal of net zero target by 2050, or sooner;
  • Continuing DIF’s global investment program into renewable energy and related infrastructure to support the global energy transition to decarbonised sources of energy;
  • Reporting in line with the Task Force on Climate-related Disclosures (“TFCD”) recommendations; and
  • Reporting on DIF’s progress annually.

Finally, DIF has become a signatory to the Institutional Investors Group on Climate Change (“IIGCC”) as part of its advocacy on climate change. Together with this initiative DIF will work towards Net Zero solutions for the infrastructure investment market.

Wim Blaasse, Managing Partner, further comments: “We believe that the single biggest threat faced by our generation is climate change. At DIF we see it as our responsibility to apply the same urgency of action to climate issues, as we have done in our response to coronavirus, and we invite all our stakeholders to join us on this commitment.”

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 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.

1 June 2021  |  Frankfurt

DIF Capital Partners invests in 108 MW onshore wind project portfolio in Poland

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure Fund VI has acquired 100% of four onshore wind projects in Poland, with a total capacity of 108 MW. DIF acquired the projects from German wind project developer Sabowind. As the projects are ready to build, DIF will invest throughout the construction of the projects.

The wind projects, which will be equipped with 54 Vestas V100 / V90 turbines, will be constructed under a turbine supply agreement by Vestas and under a tailored EPC contract by Sabowind. The projects are located across Poland. Construction commenced upon closing of the transaction and the projects are expected to become operational by Q3 2022 (two projects) and Q1 2023 (two projects). Once commissioned, Sabowind will be responsible for the technical and commercial management. The projects benefit from contracts-for-difference with the Polish state, providing fixed price tariffs for the power offtake for a period of 15 years.

The total production is estimated to be c. 300 GWh per year, which is the equivalent to the annual power consumption of around 75,000 households; thereby avoiding around c. 100,000 tonnes of CO2 emissions per year from fossil fuels. The projects will support Poland’s energy transition by expanding the country’s renewable energy capacity and reducing dependency on power production from fossil fuels.

Christopher Mansfield, Partner at DIF Capital Partners, said: “DIF is delighted to enter into its second onshore wind transaction in the Polish renewables market and to support Poland’s ongoing energy transition. The projects fit well within the investment strategy of DIF Infrastructure Fund VI and with the earlier acquired Polish projects form an attractive wind portfolio with a total capacity of 171 MW, which is expected to be fully operational within the next 24 months. The transaction once again underlines DIF’s strong position in and commitment to the renewable energy market.”

DIF was advised by DNB (financial), Allen & Overy (legal), PwC (tax and accounting) and DNV (technical).

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.

27 May 2021  |  Schiphol

DIF CIF II reaches final close above €1.0 billion target size

DIF Capital Partners (“DIF”) is pleased to announce the final close of DIF Core Infrastructure Fund II (“DIF CIF II”) at €1,012 million, exceeding its €1,000 million target.

DIF CIF II targets equity investments in the small- and mid-sized economic infrastructure market in pre-dominantly telecom, transportation and energy. DIF CIF II focuses on resilient companies and platforms that have a clear buy-and-build strategy – all with an asset-heavy business model. Its investments typically have medium-term contract cover and strong value enhancement potential. The fund targets both greenfield and operational investments, with a key focus on Europe and North America.

DIF CIF II is the successor fund of DIF CIF I, which held its final close in November 2017 at €450 million and invested in 13 companies and platforms in the telecom, energy and transportation sectors. DIF CIF II has seen strong backing from existing (both CIF and Traditional DIF funds) and new investors to the DIF platform, receiving commitments from leading institutional investors from EMEA and North America.

Allard Ruijs, Partner at DIF Capital Partners said: “We are thankful for the strong support received from investors for the DIF CIF II partnership. The CIF strategy is a relatively young strategy for DIF and the success of the fundraising of this second fund, especially during unprecedented and challenging Covid-19 times, shows the strength of the DIF platform and the attractiveness of the DIF CIF II proposition. The fact that many of our existing investors, from both DIF CIF I and the Traditional DIF funds, have backed this strategy proves that our investors value the complementarities of the two strategies. The fund will be leveraging DIF’s large global office network and dedicated local teams to source and manage attractive investment opportunities and build a resilient and diversified portfolio.”

DIF CIF II has made a strong start, having committed to five investments to date thereby deploying ca. 35% of the fund. This includes investments in (i) Valley Fiber, a Canadian telecom infrastructure platform, (ii) IELO, a French B2B wholesale fiber operator and developer, (iii) Touax Rail, a French railcar leasing company, (iv) 4th Utility, a UK fiber developer, and (v) Bartolomeo, an Irish container leasing platform. Furthermore, the fund has a strong pipeline of investments across its target sectors and geographies.

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:

  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.
  • 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 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.

27 April 2021  |  Toronto

DIF Capital Partners and PERENfra announce North American water infrastructure partnership

DIF Infrastructure Fund VI, managed by DIF Capital Partners (“DIF”) and PERENfra LLC (“PERENfra”) are pleased to announce the signing of a partnership agreement to develop and acquire water infrastructure opportunities in North America. The partnership will focus on all areas of water for municipal and industrial uses, targeting large scale investments towards development of a significant portfolio of over USD $1.5 billion.

PERENfra is led by an experienced management team with a strong network in the water sector and has several investment opportunities already in process. DIF’s complementary expertise in development and infrastructure investment as well as access to capital through its DIF Infrastructure Fund VI will help accelerate growth of the portfolio. The partnership’s investment strategy focuses on both acquisitions of operational projects and late-stage development projects targeting water efficiency and reliability while providing positive social and environmental impacts.

Jeff Nelson, Founder and CEO of PERENfra said “We are proud and excited to partner with DIF to provide essential water infrastructure in North America and beyond. There is a transition coming in water infrastructure, and as the needs for water continue to become more complex, we have built an industry leading team with the right partners to provide safe, sustainable, efficient solutions for the long-term.”

“Significant capital is required for necessary upgrades in water infrastructure systems across North America. DIF is pleased to be partnering with the experienced specialist team at PERENfra in pursuit of critical investments in essential water infrastructure.” said Marko Kremer, Head of DIF North America.

DIF was advised by Allen & Overy (legal). PERENfra was advised by Davis Graham & Stubbs (legal) and Mount Vernon Partners (transactional).

 

About DIF Capital Partners:

DIF Capital Partners is a global independent investment fund management company with approximately €8.5 billion of funds under management. Through nine investment funds, DIF Capital Partners invests in high-quality infrastructure assets that generate long-term and stable cash flows, including water, transportation, renewable energy, regulated utilities, and other infrastructure projects in North America, Europe, South America and Australia.

https://www.dif.eu/

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

 

About PERENfra:

PERENfra is a United States based infrastructure company focused on operational and development opportunities in the water sector across various geographies. PERENfra takes a long-term approach to owning and operating essential assets and our team has a reputation of providing efficiency and certainty for our clients and partners. PERENfra currently owns and operates assets providing municipal water supply and environmental conservation.

https://www.perenfra.com/

 

 

19 April 2021  |  London

DIF Capital Partners agrees to sell a portfolio of European PPP assets to Equitix

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure III (“DIF III”) and DIF Infrastructure IV (“DIF IV”) have agreed to the sale of their stakes in a portfolio of six European PPP assets to Equitix, a leading UK and European infrastructure fund manager.

The portfolio consists of shareholdings in a number of critical infrastructure projects that DIF invested into as primary transactions: A1/A6 Road, IJmond Sea Lock and N18 Road in the Netherlands; A7 Nord Road and Netz West Rolling Stock in Germany; as well as the KAV Vienna Hospital in Austria. With the exception of IJmond Sea Lock which is currently in the final stages of construction, all of the projects are operational under availability-based contractual structures that are backed by strong public counterparties.

Andrew Freeman, Head of Exits at DIF, said: “We are very pleased with the sale of this well diversified and optimised portfolio of North-Western European PPP assets which represents an attractive exit for our DIF III and DIF IV investors. We believe Equitix is an excellent counterparty and is perfectly positioned to manage the assets until maturity.”

Hugh Crossley, Chief Investment Officer for Equitix, said: “As we continue to diversify and grow our European portfolio, we are always looking out for attractive opportunities to acquire high-quality assets that meet our responsible investment criteria. The DIF portfolio does just this and will allow us to leverage our continental expertise for the benefit of investors in our European Infrastructure Fund.”

DIF was advised on the transaction by Cantor Fitzgerald and PwC (financial), Allen & Overy (legal), PwC (tax & accounting), as well as Atkins and Arup (technical).

Equitix was advised by CMS (legal), Deloitte (tax and accounting) and Arcadis (technical).

Closing of the transaction is subject to the receipt of customary approvals and consents.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €8.5 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.

 

2 April 2021  |  Santiago

DIF Capital Partners acquires a 117MW wind project in Uruguay

DIF Capital Partners (“DIF”) and Enercon GmbH (“ENERCON”) are pleased to announce that DIF, through its DIF Infrastructure Fund VI, has acquired 100% of the ownership of the 117MW Peralta I/II onshore wind projects in Uruguay.

The project, comprising 50 ENERCON E-92 2.35MW turbines, has been operational since October 2015 and benefits from a 20-year 100MW power purchase agreement with UTE, Uruguay’s state-owned utility. The project will continue to be maintained by ENERCON under a long-term agreement and asset management services will continue to be delivered by SEG-Heliotec. Following the acquisition of the 50MW Cerro Grande project in 2019, this is the second Uruguayan ENERCON project that DIF has acquired.

Christopher Mansfield, Partner and Head of Renewable Energy, said: “We are very pleased to have acquired our second renewable energy project in South America, which is the result of our strong relationship with ENERCON. We believe this investment is attractive for DIF’s investors due to the long-term project agreements that provide a high degree of predictability of future cash flows.”

DIF has been advised by Voltiq (transaction), Hughes & Hughes and Gómez-Acebo & Pombo (legal), DNV (technical) and Mazars (financial and tax & accounting). ENERCON was advised by FICUS Advisory.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €8.5 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.

 

1 April 2021  |  Schiphol

DIF Capital Partners sells portfolio of wind and solar projects in France and Germany

DIF Capital Partners, through its DIF Infrastructure Yield I fund (“DIF Yield”), is pleased to announce the sale of a renewable energy portfolio, totalling 180MW, to Kallista Energy, a French independent producer of renewable energy.

The sold portfolio comprises 15 wind and solar parks, of which five operational wind parks and three solar parks (total of 90.2 MW) are located in France and seven operational wind parks in Germany (89.5 MW).

Christopher Mansfield, Head of Renewable Energy, said: “This transaction represents a good result for DIF Yield and we believe that Kallista Energy is well placed to further optimise the residual value of this renewable energy portfolio. DIF Capital Partners will continue to manage the West European PPP/PFI and operational solar PV portfolios that remain in DIF Yield.”

DIF Capital Partners was advised by Augusta & Co (transactional) and Watson Farley & Williams (Legal).

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €8.5 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.

 

19 March 2021  |  Schiphol

DIF Capital Partners and OX2 sign 63 MW wind power deal

DIF Capital Partners (“DIF”) and OX2 AB (“OX2”) are pleased to announce that DIF, through DIF Infrastructure Fund VI, will acquire 100% of two onshore wind projects in the Podlaskie and Łódź regions of Poland, with a total capacity of 63 MW. As the projects are ready to build, DIF will invest through the construction of the projects.

The wind projects, which will be equipped with Vestas V126 turbines, have been developed and will be constructed under a tailored EPC contract by OX2. Construction commenced upon closing of the transaction and the projects are expected to become operational by end of 2022. Once commissioned, OX2 will be responsible for the technical and commercial management of the projects, which benefit from contracts-for-difference with the Polish state, providing fixed price tariffs for the power offtake for a period of 15 years.

The total production is estimated to be c. 200 GWh per year, which is the equivalent to the annual power consumption of around 50,000 households; thereby avoiding around c. 70,000 tonnes of CO2 emissions per year from fossil fuels. The projects will support Poland’s energy transition by expanding the country’s renewable energy capacity and reducing dependency on power production from fossil fuels.

Christopher Mansfield, Partner at DIF Capital Partners, said: “DIF is delighted to enter the Polish renewables market through this new partnership with OX2 and to support Poland’s ongoing energy transition. The projects fit well within the investment strategy of DIF Infrastructure Fund VI and adds to the track record of DIF-managed funds, which have invested in c. 2.3GW of wind and solar power projects in Europe, North and South America and Australia.

Paul Stormoen, CEO, OX2, said: “I am very happy to welcome DIF Capital Partners as a new partner with its extensive experience from long-term investments in renewable energy projects. Our partnership is a significant step in OX2’s ongoing expansion in Poland. It more than quadruples the amount of green energy that will be produced from the wind farms in Poland built by OX2.”

DIF was advised by PWC (financial), Allen & Overy (legal) and DNV (technical). OX2 was advised by DNB Markets (financial) and DLA Piper (legal).

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €8.5 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

About OX2

OX2 develops, builds and manages renewable power generation. OX2 has taken a leading position in large-scale onshore wind power over the past 15 years, having developed and constructed more than 2.4 GW of wind power in Europe. OX2 currently has contracted asset management services for 44 wind farms 2.25 GW). OX2’s mission is to lead the ongoing energy transition and promote a more sustainable future. OX2 has operations in Sweden, Norway, Finland, Poland, Lithuania and France. Its head office is in Stockholm, Sweden. Sales revenue in 2020 amounted to €510 million. For more information, please visit: http://www.ox2.com.

For further questions, please contact:

DIF Capital Partners
Allard Ruijs, Partner
a.ruijs@dif.eu

OX2 Poland
Katarzyna Suchcicka
Country Manager
katarzyna.suchcicka@ox2.com
Mobile: +48 507 701 903

OX2 Group
Head of Communications
Mikael Östlund
mikael.ostlund@ox2.com
Phone: +46 709 100 159

13 January 2021  |  London

DIF Capital Partners acquires additional stake in Dublin Waste to Energy PPP project

Following its initial investment in May 2019, DIF Capital Partners, through DIF Infrastructure V (“DIF”), is pleased to announce it has closed the acquisition of an additional 10% stake in the Dublin Waste to Energy PPP project (the “Project”). Together with its partner MEAG, DIF acquired the stake from the Green Investment Group (“GIG”). Following this transaction, DIF and MEAG together now hold 50% of the Project, with DIF holding the majority thereof. The Project is an operational waste to energy facility supported by a 45 year contract with Dublin City Council.

Located in Poolbeg, Dublin Port, the Project processes 600,000 tonnes of residual waste annually and generates electricity which is exported to Ireland’s national grid – sufficient to power 80,000 homes. The facility has been designed to provide highly efficient incineration and is classified as energy recovery in line with EU policy on waste. The Project is part of a wider Dublin regional waste management plan, which is aimed at reducing waste, maximizing recycling and generating energy from waste. The Project benefits from the Irish renewable energy feed-in tariff. The facility was constructed by Covanta who are also its long term operator.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €8.5 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:

  • DIF Infrastructure funds target equity investments with long-term contracted or regulated income streams including public-private partnerships (PPP/PFI/P3), 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 150 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

14 December 2020  |  Toronto

DIF Capital Partners sells its 50% stake in US solar project Lone Valley to Munich Re

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure III (“DIF III”) has signed an agreement to sell its 50% stake in Lone Valley to Munich Re, represented by Munich Re’s global asset manager MEAG. Closing of the transaction is expected to take place in Q1 2021.

Lone Valley consists of two single-axis tracking utility scale solar photovoltaic projects: Lone Valley I, which is a 10 MWac facility, and Lone Valley II, which is a 20 MWac facility, both located next to each other in San Bernardino County, California, USA.

Andrew Freeman, Head of Exits at DIF, said: “We are very pleased with the successful exit of DIF’s first renewable energy investment in the USA and are confident that MEAG will be a strong steward of the project going forward.”

Holger Kerzel, Member of MEAG’s Management Board, said: “By further expanding our renewable energy portfolio, we contribute to avoiding climate-damaging emissions near one of the world’s largest conurbations. With the solar energy produced in these plants, around 10,000 households can be supplied with electricity.“

DIF was advised by Fifth Third Securities (financial) and Stoel Rives LLP (legal). MEAG was advised by Ballard Spahr (legal).

 

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €8.5 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:

  • DIF Infrastructure funds target equity investments with long-term contracted or regulated income streams including public-private partnerships (PPP/PFI/P3), 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 150 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

About MEAG

MEAG manages the assets of Munich Re and ERGO. It has representations in Europe, Asia and North America and offers its extensive know-how to institutional and private customers. MEAG currently manages assets to the value of around €334 billion, around €67 billion of which in its business with institutional investors and private customers.

MEAG invests in alternative assets in North America on behalf of investors from the Group and institutional investors. MEAG’s most recent investments in the US comprise a timberland investment in Oregon, the infrastructure investment Astoria Energy Partners in N.Y.C. and the real estate investment 330 Madison Av. in Manhattan.

 

Contact DIF: Allard Ruijs, Partner a.ruijs@dif.eu.

Contact MEAG: Josef Wild, Spokesperson j.wild@meag.com.

 

26 November 2020  |  Madrid

DIF Capital Partners signed agreement to acquire 33.3% interest in Toledo Hospital PPP project

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure VI (“DIF VI”) has signed a share purchase agreement with Spanish infrastructure company OHL to acquire 33.3% of the share capital of Nuevo Hospital de Toledo S.A. (“Toledo Hospital” or “the Project”) and an indirect 33.3% stake in the company that operates the Project.

The Project consists of the construction, maintenance, financing and operation of the non-clinical services of the Toledo Hospital. The Project benefits from an availability based payment scheme granted by Castilla-La Mancha Health Service (SESCAM) under a concession that will run until 2045. The construction of Toledo Hospital started in 2016: it was officially inaugurated in November 2020 and is expected to be fully operational during 2021. The Project was built by a joint venture between OHL, Acciona and ACS.

Toledo Hospital is considered to be one of the largest hospital complexes in Europe. It will serve more than 434,000 inhabitants living in 116 municipalities in the province of Toledo. The Project comprises seven buildings with a total floor area of more than 245,000 m2, which are organized around a central street that functions as a public space and connects the various hospital services. It houses 1,142 beds, of which 760 are for hospitalization and 382 for other uses, 368 consultation rooms, 97 examination rooms, 120 outpatient posts, 42 emergency observation posts and 65 treatment posts, and examination bays.

Fernando Moreno, DIF’s head in Spain: “DIF has an excellent and long lasting relationship with OHL. We are very glad that we have been able to further develop our relationship through this high profile transaction. We are honoured to and believe that we are well placed to operate this landmark infrastructure project together with the grantor and our project partners. The Project perfectly fits in our portfolio and should provide a stable and strong yield for our investors”.

Closing of the transaction is expected to take place in the first half of 2021.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with €8.5 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:

  • DIF Infrastructure funds target equity investments with long-term contracted or regulated income streams including public-private partnerships (PPP/PFI/P3), 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 150 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.