DIF Infrastructure III is pleased to announce that it has signed and closed the sale of a 100% stake in a portfolio of four Canadian solar plants (the “Portfolio”) to Ullico Inc.’s infrastructure investment business.
The Portfolio comprises four Canadian solar plants:
• CSI Glenarm LP;
• Goldlight LP;
• Illumination LP; and
• Stone Mills Solar Park LP.
The Portfolio plants achieved commercial operations between 2012 and 2015. Glenarm, Goldlight and Illumination were acquired at the start of construction, while Stone Mills was acquired two years after the start of operation.
Paul Huebener, Partner and Head of Americas says: “We are pleased with the completion of the sale of the Portfolio that was successfully optimized by acquiring individual projects, bringing them through construction, completing two refinancings in 2015 and 2017, recontracting and the exit via a competitive portfolio sales process.”
Andrew Freeman, Head of Exits says: “This is our first exit in North America. DIF will continue its successful strategy of proactively selling assets from its more mature funds thereby taking advantage of strong demand for high quality infrastructure projects.”
DIF was advised by Raymond James (Finance) and Osler (Legal).
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 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 over 100 professionals in eight offices, located in Amsterdam, Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto. Please see www.dif.eu for further information on DIF.
For more information about DIF Americas, please contact:
Partner, Head of Americas
For more information by press and investors, please contact:
Partner, Investor Relations and Business Development
For more information about further exits, please contact:
Managing Director, Head of Exits