23 December 2019  |  Santiago

DIF Capital Partners closes acquisition of Cerro Grande wind farm in Uruguay

DIF Capital Partners (“DIF”), through its most recent fund DIF Infrastructure V, is pleased to announce the 100% acquisition of the 50 MW Cerro Grande wind farm in Uruguay from Enercon and eab New Energy.

The project, comprising 22 turbines, has been operational since January 2018 and benefits from a 20-year 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 continue to be delivered by SEG Heliotec.

Following the recent opening of its Latin American office in Santiago (Chile), this marks DIF’s first investment in Uruguay and fits well within DIF’s mandate as the investment is in an operational wind project with long-term contracted off-take.

Daniel Aninat, Managing Director and head of DIF’s South American operations added: “We are very pleased to acquire our first renewable energy project in South America. The transaction is the result of our strong relationship with Enercon and 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 (financial), Hughes & Hughes and Gómez-Acebo & Pombo (legal), DNV GL (technical), KPMG (tax) and Mazars (model audit). Enercon was advised by Ficus Capital.

About DIF Capital Partners

DIF is an independent infrastructure fund manager, with €6.0 billion of assets under management across eight closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 135 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:
Thijs Verburg, Investor Relations & Business Development
Email: t.verburg@dif.eu

27 November 2019  |  

DIF Capital Partners and Cinia to build out fiber optic networks in Finland

DIF Capital Partners (“DIF”), through its DIF Core Infrastructure Fund I (“DIF CIF”) is pleased to announce that it has entered into a joint venture with Cinia Oy (”Cinia”) to build fiber-to-the-home (“FttH”) networks in Finland.

The joint venture (“Adola”) plans to provide over 100,000 FttH connections to public, private and commercial customers with a focus on Finland’s underserved areas and operates under the consumer brand Täyskuitu (please refer to www.tayskuitu.fi for more information). FttH networks are a key element to enable digital development in business and society, and keep up pace with global digitalization developments. The joint venture with Cinia underlines DIF CIF’s key strategic focus to invest in digital infrastructure. The first project is expected to become operational in the first half of 2020.

DIF’s share in Adola amounts to 80.1%. The remaining 19.9% is held by Cinia, a public Finnish telecom infrastructure provider that owns and operates roughly 15,000 km of fiber optic backbone network in Northern Europe, including a high capacity submarine fiber cable to Germany.

“We are pleased to have established a long term co-operation with Cinia for the roll out of fiber in Finland. This is an excellent opportunity for DIF CIF to invest in high quality projects with a strong local partner and to further expand into the fast growing telecom infrastructure sector” comments Willem Jansonius, Head of DIF CIF.

About DIF Capital Partners

DIF is an independent infrastructure fund manager, with €6.0 billion of assets under management across eight closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 135 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
Email: a.ruijs@dif.eu

About Cinia

Cinia provides secure high-availability data network and software solutions. Our operations are based on our solid expertise in modern software development, data network technologies and critical operating environments. Our fiber optic network of roughly 15,000 kilometers, including the C-Lion1 submarine cable, enables the fastest data communications solutions to Central Europe and to markets in Asia and Eastern Europe. By combining our services with services of our partners, we can provide reliable and comprehensive solutions that help our customers write their own digital success stories. More information about Cinia: www.cinia.fi/en

21 November 2019  |  Paris

DIF Capital Partners invests in a portfolio of LNG assets

DIF Capital Partners, through its DIF Core Infrastructure Fund I (“DIF CIF I”), is pleased to announce that it has signed final documentation alongside ship-owner Geogas Maritime and Access Capital Partners for the acquisition of a 50% stake in a French incorporated company that will own and operate a fleet of five to-be-built LNG carriers. The remaining 50% will be held by Nippon Yusen Kabushiki Kaisha (NYK), a leading Japanese shipping and logistics company.

The five 174,000 cbm vessels will be built by leading South Korean shipyards and equipped with state-of-the-art LNG fuelled propulsion technology, resulting in best-in-class environmental performance. The first ship is expected to become operational in April 2020. All five ships will fly the French flag. The vessels will be chartered to a large French and a large European utility under long-term contracts and will be project financed under a customary French lease structure.

Thomas Vieillescazes, Head of France, said: “This is an excellent opportunity for DIF CIF I to invest in high quality assets and grow DIF’s footprint into the expanding LNG sector alongside strong and experienced counterparties. We’re also very proud to participate in a strategic project for the further development of the French LNG sector”.

About DIF Capital Partners

DIF is an independent infrastructure fund manager, with €6.0 billion of assets under management across eight closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 135 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
Email: a.ruijs@dif.eu

20 November 2019  |  Toronto

DIF Capital Partners closes the acquisition of 100% of energy platform BluEarth Renewables

DIF Capital Partners, through its most recent fund DIF Infrastructure V (“DIF V”), is pleased to have closed the acquisition of 100% of BluEarth Renewables LP (“BluEarth”) from Ontario Teachers’ Pension Plan (“OTPP”).

BluEarth is a leading, independent, power producer that develops, builds, owns and operates wind, hydro and solar facilities. Since its inception in 2010, BluEarth has developed and acquired 19 hydro, wind and solar projects across North America, representing 405 MW of gross capacity. In addition it has over 1,000 MW of projects under development. Headquartered in Calgary, Alberta, the company has been recognized as one of Alberta’s Top 75 Employers.

“We are very pleased to close this transaction,” said Paul Huebener, Partner and Head of DIF Americas. “BluEarth is an attractive investment that will provide attractive returns and stable cash flows to our investors. As we’ve been working together over the last several months, we also see strong growth potential ahead for BluEarth – particularly in the U.S. market.”

To support the company’s U.S. growth objectives, BluEarth recently established a commercial U.S. office located in Phoenix, Arizona.

DIF V was advised by Baker McKenzie, BMO Capital Markets, Agentis Capital, and KPMG. Financing is provided by BMO, Desjardins, and National Bank.

About DIF Capital Partners

DIF is an independent infrastructure fund manager, with €6.0 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 135 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
Email: a.ruijs@dif.eu

1 November 2019  |  London

In-depth commentary on ESG by Angela Roshier, Partner and Head of Asset Management at DIF Capital Partners, in Infrastructure Investor

DIF’s Head of Asset Management, Angela Roshier, shares thoughts and insights on how to develop an effective environmental, social and governance (ESG) action plan for infrastructure assets in Infrastructure Investor’s Sustainable Investment Report 2019.

For the full article please see: Angela Roshier on ESG in II November 2019

2 October 2019  |  Schiphol

DIF Capital Partners’ investment in Irish Schools PPP project successfully completed

DIF Capital Partners (“DIF”) is pleased to report that the construction of the Irish Schools PPP Bundle 5 project (the “Project”) has been successfully delivered. The comprehensive restructuring was required due to the liquidation of the project contractor Carillion in 2018, which initially led to a standstill of the construction of the new school facilities and uncertainty for many students.

Carlow Campus, including Tyndall college and the institute of Further Education are the last facilities in the Project that opened their doors to students for the start of the new school year. This marks the successful completion of all six facilities within the Project. The other facilities became operational in Q3 2018 and Q2 2019.

The Irish Schools PPP Programme, procured by the National Development Finance Agency (“NDFA”) on behalf of the Department of Education & Skills (“DoES”), represents a major investment in education infrastructure through the delivery of new, state-of-the-art education facilities by way of public private partnership (“PPP”) arrangements. The Project delivered five replacement schools and one replacement Institute of Further Education that will be used by DoES as a template for other projects as a centre of excellence.

DIF had previously confirmed its longstanding commitment to the Project by appointing Omagh-based Woodvale Construction (“Woodvale”) as a replacement contractor in June 2018, following the liquidation of Carillion, a UK construction company and DIF’s original co-shareholder in the Project. This built on Woodvale’s experience in projects to deliver education facilities. Integrated facilities management services and life cycle provisions are provided by Sensori Facilities Management, a joint venture of John Sisk and Son, one of the largest Irish construction companies, and Designer Group, the Dublin-based international electrical and mechanical engineering business.

DIF was able to proceed with the Project and to successfully deliver it due to constructive cooperation and negotiations between all stakeholders. This will secure education in all new facilities over the next 25 years.

About DIF Capital Partners

DIF Capital Partners (“DIF”) is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in construction and operational infrastructure assets, that generate stable and predictable cash flows, located in Europe, Americas and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 135 professionals, based in nine offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

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

13 September 2019  |  Schiphol

DIF Capital Partners achieves highest ranks in UNPRI’s ESG scoring

DIF Capital Partners (“DIF”) is pleased to report that it achieved strong UNPRI scores for 2019, including an A+ for the infrastructure module and an A for the strategy and governance module.

The connection between the infrastructure assets that DIF’s funds invest in and the positive changes they create for current and future communities is one of the key drivers of DIF’s organisation and culture. As such, strong ESG performance is a critical success factor to the long term resilience of our assets and funds.

Today, DIF is publishing its 2019 ESG Report. With the publication of the report, we show that DIF has an action oriented and transparent approach designed to positively engage with all our stakeholders.

DIF welcomes your feedback and is looking forward to continuing this important discussion with its stakeholders as we collectively look to improve ESG performance across the industry.

Please click on the following link to access the full report: DIF Capital Partners – ESG Report 2019.

About DIF Capital Partners

DIF Capital Partners (“DIF”) is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in construction and operational infrastructure assets, that generate stable and predictable cash flows, located in Europe, Americas and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 130 professionals, based in nine offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

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

11 September 2019  |  Madrid

DIF Capital Partners agrees to sell portfolio of Spanish infrastructure concessions

DIF Infrastructure Fund III (“DIF III”), alongside its co-investors Swiss Life Asset Managers and Industriens Pension, is pleased to announce the signing of an agreement for the sale of its stakes in a portfolio of Spanish availability-based infrastructure concessions to Brookfield Super-Core Infrastructure Partners, an open-ended infrastructure fund managed by Brookfield Asset Management.

The portfolio includes significant shareholdings in concessions of the Majadahonda hospital in Madrid; the Line 9 section IV metro stations in Barcelona; and three transport hubs in Madrid: Avenida de America, Plaza de Castilla and Principe Pio.

Andrew Freeman, Head of Exits, said: “This is our first major exit in the Spanish infrastructure concession market, and represents an attractive exit for DIF III and our co-investors. It is part of our strategy of proactively targeting the sale of assets from our mature funds which have been successfully optimized.”

DIF was advised by Santander (M&A), HSF (Legal), Arup (Technical) and KPMG (Tax & Accounting).

Closing of the transaction is subject to receipt of usual consents from project counterparties.

About DIF Capital Partners

DIF Capital Partners (“DIF”) is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in construction and operational infrastructure assets, that generate stable and predictable cash flows, located in Europe, Americas and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 130 professionals, based in nine offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

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

9 September 2019  |  Santiago

DIF Capital Partners to acquire 50 MW wind farm in Uruguay

DIF Capital Partners (“DIF”), through its most recent fund DIF Infrastructure V, is pleased to announce the signing of an agreement with Enercon and eab New Energy from Germany for the 100% acquisition of the 50 MW Cerro Grande wind farm located in eastern Uruguay.

The project, comprising 22 turbines, has been operational since January 2018 and benefits from a 20-year power purchase agreement with UTE, Uruguay’s state-owned utility. The project will continue to be operated and maintained by Enercon and asset management services continue to be provided by SEG Heliotec.

Wim Blaasse, Managing Partner of DIF Capital Partners added: “We are pleased to achieve the milestone of making our first investment in South America, following the recent opening of our South American office in Santiago (Chile). The acquisition is the result of our strong relationship with Enercon. The long-term project agreements provide a high degree of predictability of future cash flows, making this an attractive investment for DIF’s investors.”

DIF has been advised by Voltiq (transaction), Hughes & Hughes and Gómez-Acebo & Pombo (legal), DNV GL (technical), KPMG (tax), Mazars (model audit) and Aon (insurance). Enercon was advised by Ficus Capital.

Closing of the transaction is subject to receipt of usual consents from project counterparties and is expected to take place in the course of 2019.

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in construction and operational infrastructure assets, that generate stable and predictable cash flows, located in Europe, North America, Australasia and South America through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 130 professionals, based in nine offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

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

3 September 2019  |  Schiphol

Keynote interview with Wim Blaasse, Managing Partner at DIF Capital Partners, in Infrastructure Investor

DIF’s Managing Partner, Wim Blaasse, was interviewed about the lessons from a decade of infrastructure investments by Infrastructure Investor for their 10th anniversary special edition – The Decade.

For the full article please see: Interview with Wim Blaasse in Infrastructure Investor – September 2019

1 August 2019  |  Toronto

DIF Capital Partners acquires 203MW wind portfolio in the US

DIF Infrastructure Fund V (“DIF”) is pleased to announce financial close of the 100% acquisition of MIC Renewable Energy Holdings LLC’s indirect interest in two operating wind projects located in the United States with a gross capacity of 203MW.

Idaho Wind Partners (Idaho) and Brahms Wind (New Mexico) have been operational since 2011 and 2014, respectively. Both projects have long-term power purchase agreements with investment grade off-takers. The projects will be operated and managed by Longroad Energy Services under asset management and operations & maintenance agreements.

This investment fits well within DIF’s mandate to acquire infrastructure and renewable energy assets and adds to DIF’s existing portfolio of renewable energy assets in the United States.

Paul Huebener, Partner and DIF’s Head of Americas added: “We are pleased to add these established wind projects to our portfolio of long-term, contracted assets. We believe the projects will provide attractive returns and stable cash flows to our investors.”

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.

DIF has a team of over 125 professionals, based in nine offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact:
Thijs Verburg, Director
Email: t.verburg@dif.eu

31 July 2019  |  Schiphol

DIF announces brand name change to DIF Capital Partners

DIF is pleased to announce that we have changed the DIF brand name to DIF Capital Partners. The name change is a result of the global growth of our firm and improves the recognition of DIF as global investment firm, acting as a partnership.

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America, Latin America and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 125 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:
Thijs Verburg, Director
Email: t.verburg@dif.eu