DIF Infrastructure III is pleased to announce that it has signed and closed the sale of a 100% stake in the Islip and Springhill solar plants to Greencoat Solar Assets II Limited.
Islip and Springhill are two 5MW solar plants located in UK. Both plants have been operational since 2011 and were acquired by DIF in 2013. The projects were refinanced in June 2017.
Andrew Freeman, Head of Exits, said: “This is an attractive exit for DIF III and continues DIF’s successful strategy of proactively targeting to sell assets from its more mature funds taking advantage of strong demand for high quality core infrastructure projects.
DIF were advised by Elgar Middleton (Finance) and Pinsent Masons (Legal).
Greencoat was advised by PWC (Tax), Eversheds Sutherland (Legal) and Evergy (Technical).
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.
For more information please contact:
Managing Director, Head of Exits
Director, Investor Relations and Business Development