DIF Infrastructure IV is pleased to announce the acquisition of 100% of the 125 MW Clare Solar PV project from Fotowatio Renewable Ventures (FRV), via a 50 – 50 joint venture with Lighthouse Infrastructure.

Developed by FRV, the Clare Solar Farm is located around 35 km south-west of Ayr in Northern Queensland. The 125MW (DC) photovoltaic solar farm is currently under construction and is scheduled to commence operations in late 2017. The project will create up to 200 jobs during construction and when completed will generate enough electricity to power approximately 42,000 Queensland homes, abating nearly 200,000 tonnes of CO2e emissions annually.

Origin Energy, a major Australian energy company, has entered into a long-term contract to purchase 100% of the electricity output and large-scale renewable energy certificates (LGCs) generated by the project.

Project finance has been provided to the project by NAB and SMBC.

RBC Capital Markets and Société Générale were financial advisers to Lighthouse and DIF in relation to the acquisition and King Wood Mallesons acted as legal adviser.

Marko Kremer, DIF’s Head of Australasia added: “This acquisition represents DIF’s third large scale solar PV project in Australia, and we are delighted to further extend our relationship with FRV following the acquisition of the Royalla Solar Farm in 2016”.

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €3.7 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Christopher Mansfield, Partner, Head of Renewable Energy
Email: c.mansfield@dif.eu

Allard Ruijs, Partner, Head of Investor Relations & Business Development
Email: a.ruijs@dif.eu

DIF Infrastructure IV is pleased to announce the acquisition of 100% of the 275 MW (dc) Bungala Solar PV project from Reach Solar Energy, via an equal joint venture with Enel Green Power.

Developed by Reach Solar Energy, the Bungala Solar Project will be one of the largest solar PV plants in Australia. The utility-scale solar power project is located near Port Augusta, South Australia and covers approximately 700 hectares of land. The project will produce enough electricity to power approximately 82,000 homes, avoiding the emission of about 520,000 tonnes of CO2.

Origin Energy, a major Australian utility will purchase all electricity and renewable certificates from the project. The project is split into two equal solar farms of 137.5 MW, located on two adjacent plots of land. Construction works at Bungala Solar One are expected to begin by mid-2017, followed by Bungala Solar Two, whose construction will start by the end of this year. The overall 275 MW project will be fully operational by the third quarter of 2018.

Marko Kremer, DIF’s Head of Australasia added: “DIF is delighted to add Bungala solar farm to its existing investment portfolio. It represents DIF’s second solar PV project in Australia, following the acquisition of Royalla in 2016. We are excited to be part of the Australian renewable energy landscape which supports the nation’s commitment to a greener economy as well as creating significant job opportunities in the Port Augusta region. This investment represents an attractive, large scale solar PV energy investment, underpinned by stable, long term contracted cash flows.”

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €3.7 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3 and renewable energy assets in Europe, North America and Australia. DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Christopher Mansfield, Partner, Head of Renewable Energy
Email: c.mansfield@dif.eu

Allard Ruijs, Partner, Head of Investor Relations & Business Development
Email: a.ruijs@dif.eu