DIF Infrastructure III has signed and closed the sale of a 100 percent stake in the Islip and Springhill solar plants to Greencoat Solar Assets II Limited.
Islip and Springhill are two 5-megawatt solar plants located in the United Kingdom. Both plants have been operational since 2011 and were acquired by DIF in 2013. The projects were refinanced in June 2017.
Andrew Freeman, head of exits at DIF, said, “This is an attractive exit for DIF III and continues DIF’s successful strategy of proactively targeting to sell assets from its more mature funds taking advantage of strong demand for high-quality core infrastructure projects.”
DIF was advised by Elgar Middleton (finance) and Pinsent Masons (legal). Greencoat was advised by PWC (tax), Eversheds Sutherland (legal) and Evergy (technical).
DIF is an independent infrastructure fund manager, with €5.6 billion ($6.4 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 and DIF Core Infrastructure Fund I.
