9 September 2019

DIF Capital Partners to acquire 50 MW wind farm in Uruguay

Voltiq acts as buy-side advisor

DIF Capital Partners to acquire 50 MW wind farm in Uruguay

DIF Infrastructure Fund V (“DIF”) is pleased to announce the signing of an agreement with Enercon and eab New Energy for the 100% acquisition of Ladaner S.A., the company owning 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 delivered by SEG Heliotec.

This investment fits well within DIF’s mandate to acquire infrastructure and renewable energy assets, and, following the recent opening of its Latin American office in Santiago (Chile), this marks DIF’s first investment in Uruguay.

Wim Blaasse, Managing Partner of DIF added: “We are pleased to achieve the milestone of making our first renewable energy investment in Latin America, which 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) and Mazars (model audit) and Aon (insurance). 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 greenfield and brownfield infrastructure assets, that generate stable and predictable cash flows, located in Europe, North America, Latin 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.
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.

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