DIF Capital Partners has agreed to acquire 60 percent of Novar, a developer of large-scale sustainable energy systems in the Netherlands.
As part of the investment, DIF said it will provide growth capital to, among others, support the expansion of Novar’s utility-scale solar, rooftop solar and battery energy-storage systems (BESS) portfolio. However, financial terms were not disclosed.
Novar currently owns and operates 440 megawatts of utility-scale solar PV, rooftop solar and BESS projects and has a development project pipeline of more than 15 gigawatts. Novar is also currently developing the largest private grid project in the Netherlands, which will provide grid connection for several of its large-scale solar and BESS projects, as well as the first Dutch solar thermal and green hydrogen projects.
The company operates a fully integrated independent power-producer model, providing operation and maintenance, technical and commercial asset management, and consu