Independent infrastructure fund manager DIF has announced that it has divested its stake in its DIF Infrastructure III and IV projects, a portfolio of 29 French solar plants to Terres d’Energie.
Financial details of the transaction have not been divulged by either of the companies.
DIF head of exits Andrew Freeman said: “We are pleased with the completion of the sale of the Portfolio that was successfully optimised throughout the life of the assets, starting with acquiring individual projects or small portfolios, bringing some of them through construction, completing refinancings of two sub-portfolios in 2016 and 2017, contracting and then exiting via a competitive portfolio sales process.”
The majority shareholder of Terres d’Energie is Tenergie, a French independent power producer that focuses on renewable energy.
As part of the deal DIF III has sold its stake in projects with total capacity of 97.8MW and DIF IV divested its shares in projects with total capacity of 10MW.
The divested portfolio includes a mix of ground-mounted and rooftop assets, which achieved commercial operations between 2009 and 2016.
DIF acquired these plants during the construction phase and all the facilities benefit from 20-year Feed-in-Tariffs.