Cerro Grande Wind

DIF Infrastructure Fund V (“DIF”) has signed 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.

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.

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.