DIF fund to acquire 203MW wind portfolio in the US
Infrastructure fund manager DIF is buying a 203MW wind portfolio in the US
The manager’s DIF Infrastructure Fund V fund is acquiring MIC Renewable Energy Holdings’ indirect interest in the Idaho Wind Partners (Idaho) and Brahms Wind (New Mexico) wind projects for an undisclosed sum.
Idaho Wind and Brahms Wind 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 the fund’s mandate to acquire infrastructure and renewable energy assets and adds to DIF’s existing portfolio of renewable energy assets in the US.
The fund targets equity investments in public-private partnerships, concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows. The fund raised €1.9bn in May 2018.
Paul Huebener, partner and DIF’s head of Americas said: “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.”