DIF Infrastructure Fund V has signed an agreement to acquire 100 percent of MIC Renewable Energy Holdings’ indirect interest in two operating wind projects located in the United States with a gross capacity of 203 megawatts.
Idaho Wind Partners (located in Idaho) and Brahms Wind (located in New Mexico) 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 DIF’s mandate to acquire infrastructure and renewable energy assets, according to the firm, and adds to DIF’s existing portfolio of renewable energy assets in the United States.
The transaction is subject to receipt of usual and customary regulatory approvals and consents for transactions of this nature.
Closing is expected to take place in the course of 2019.
DIF is an independent infrastructure fund manager, with €5.6 billion ($6.3 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 Asia Pacific.
DIF Infrastructure V 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.