DIF Infrastructure Fund V (“DIF”) is pleased to announce the signing of an agreement to acquire 100% 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.
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.”
The transaction is subject to receipt of usual and customary regulatory approvals and consents for transactions of this nature. Closing is expected to take place in the course of 2019.
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 a team of over 115 professionals, based in eight offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto. Please visit www.dif.eu for further information.
Allard Ruijs, Partner